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Robert Walters, Chief Executive, commented: "Group net fee income for the year ended 31 December 2011 was up 18% (15%*) to £183.6m (2010: £155.4m) and we expect a satisfactory outcome for 2011 as a whole. "We are very mindful of current market conditions and weaker client and candidate confidence and therefore enter 2012 with caution. We will run the business as we have in previous times of economic uncertainty, through sensible cost management and long term investment in those markets offering strong growth opportunities. The Group remains well positioned to meet the challenges ahead as a result of our strategy of geographic expansion and diversification."
· 74% of Group's net fee income generated from international business. · Strong growth in France and Germany against a backdrop of economic uncertainty across Europe. · Further expansion in Asia with the opening of the Group's first Taiwan office in Taipei. · Market conditions in the UK remain difficult. · Group headcount increased to 2,042 (30 September 2011: 2,001) as a result of a major Resource Solutions client win. · Balance sheet remains strong, with net cash in excess of £17m as at 31 December 2011 (£24.9m as at 31 December 2010).
http://www.investegate.co.uk/Article.aspx?id=201201060700101004V
Berenberg downgrades Robert Walters from hold to sell.
Robert Walters: Investec scales back target to 310p from 325p, buy rating kept
Group Gross Profit (Net Fee Income) +13%
Robert Walters, Chief Executive, commented: "During the third quarter, we have increased Group net fee income and achieved strong growth across our international businesses. Net fee income growth, whilst positive, has slowed as markets have become more challenging. Group headcount increased by 4% to 2,001, mainly in Asia and Continental Europe and year to date we have opened five offices, two in new countries. The Group is in a robust position as a result of this strategy of international growth and diversification and we continue to invest in those markets where longer term growth opportunities are strongest."
· 75% of Group's net fee income generated from international businesses. · Strong growth in France and Germany: second German office opened in Frankfurt. · Further investment in Asia, with the opening of the Group's first office in Indonesia. · UK market conditions remain challenging. · Recently opened office in Sao Paulo, the Group's first in South America, continues to perform well. · Group headcount of 2,001 (30 June 2011: 1,932). · All major office moves (London, Singapore and Sydney) successfully completed. · Balance sheet remains strong, with net cash in excess of £5m as at 30 September 2011 (£10.7m as at 30 June 2011).
http://www.investegate.co.uk/Article.aspx?id=201110110700109220P
Merchant Securities downgrades Robert Walters from buy to sell, target price cut from 400p to 300p.
His n hers shares for Robert Walters and wife Robert Walters, chief executive of the recruitment company he named after himself, and his wife have together spent about £200,000 on shares in the firm. They purchased a combined total of 81,630 shares at 245p each. The transaction brings Robert Walters’ total interest to 2,181,480 shares, equivalent to a 2.85% stake in the group
Collins Stewart downgrades Robert Walters from buy to hold, target price unchanged at 468p.
Overseas demand helps Robert Walters Date: Thursday 04 Aug 2011 LONDON (ShareCast) - Robert Walters reported strong half yearly results and hiked its interim dividend as the white-collar recruitment group's stellar performance in UK, France and Australia offset slight weakness in New York. For the six months ended 30 June, net fee income rose 23% to £89.1m, up from £72.3m in the year-ago period, and revenue jumped 25% to £241.6m, on a constant currency basis. “The UK business grew net fee income and operating profit against a difficult economic backdrop and cautious client and candidate sentiment. Across the financial and commercial sectors, recruitment was largely centred on replacement rather than new hires however pockets of strong demand were evident across the risk, governance, compliance and legal disciplines,” Robert Walters said. Strong performance in the European region was underpinned by robust growth in junior clerical recruitment business in France, the company said, whereas recruitment activity in New York, which was muted in the financial services market during the first quarter, picked up in the second quarter. The company said 74% of its net fee income now comes from outside of the UK, compared with 70% in 2010. Shares of the company edged lower 0.5% to 312p in trading session in London. Its peers Michael Page International and Hays also dropped more than 2% each, in line with the movement on the benchmark index.
Robert Walters plc Half-yearly results for the six months ended 30 June 2011 Interim Management Report The Group performed well during the first half of the year. Revenue was up 28% to £241.6m (2010: £188.8m) and gross profit ('net fee income') by 23% (21% in constant currency) to £89.1m (2010: £72.3m), resulting in an operating profit of £7.2m (£7.0m in constant currency) (2010: £5.2m) and a profit before taxation of £7.1m (£6.9m in constant currency) (2010: £5.1m). The Group has maintained a strong cash position with net cash of £10.7m as at 30 June 2011 (30 June 2010: £12.9m). Market conditions, recruitment activity levels and client and candidate confidence varied from region to region during the first six months of the year. Net fee income and operating profit growth was largely driven by our international businesses which now represent 74% (2010: 70%) of the Group's net fee income. Permanent recruitment represents 71% (2010: 70%) of the Group's recruitment net fee income. We have continued to grow market share and invest in the growth and diversification of the business. Headcount stands at 1,932 (2010: 1,539) and the Group has 44 offices in 21 countries. The planned office moves in Singapore and Sydney have been successfully completed and our major London head office move remains scheduled for later this month.
http://www.investegate.co.uk/Article.aspx?id=201108040700167109L
Robert Walters, which specialises in professional recruitment in 21 countries around the world, put out some solid numbers yesterday, many of them driven by the group’s performance outside the UK. Numis backed the stock for boasting a greater growth opportunity than its British rivals in the near-term. It is currently valued at the low end of the range with a price of 10 times forward earnings. The fact that the company is investing for growth only adds to the attractions. Buy, says the Independent.
Robert Walters faced a stinging shareholder revolt at its annual meeting yesterday, with investors rejecting pay policies at the recruitment group. Of the votes cast, nearly 44 per cent were against the remuneration report. Another 16 per cent were withheld. The revolt came after the remuneration committee decided to award bonuses of more than the set limit of 100 per cent of salary for executive directors, the Independent reports.
Glad this share has started to move, this share has plenty of potential in the next 3 - 6 months. Good recovery share, IMHO.
anyone got a clue why the trdes here are so low
http://www.investegate.co.uk/Article.aspx?id=200903271641436445P
http://www.investegate.co.uk/Article.aspx?id=200903271244466174P
http://www.investegate.co.uk/Article.aspx?id=200903271304086175P
decided to take a punt on these.. directors dealing & holdings being increased by standard life
large director dealing on friday, any thoughts