Last checked at 8 Oct 2013 07:00
8 October 2013
ROBERT WALTERS PLC
(the 'Company' or the 'Group')
Interim management statement for the third quarter ended 30 September 2013
Financial and operational highlights
Gross profit (Net Fee Income) | Q3 2013
| Q3 2012
| % change | % change (constant currency*) |
Asia Pacific | £23.7m | £24.0m | (1%) | 7% |
UK | £15.8m | £13.1m | 21% | 21% |
Europe | £10.3m | £9.5m | 8% | +0% |
Other International | £2.1m | £1.8m | 19% | 33% |
Group | £51.9m | £48.4m | 7% | 10% |
* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.
§ Net fee income growth, in constant currency, across all of the Group's regions for the fourth successive quarter.
§ UK performed strongly with net fee income up 21% underpinned by excellent growth in Resource Solutions and the regions in particular.
§ Double-digit growth in constant currency across Asia Pacific, excluding Australia where market conditions remain challenging, with strong performances from Japan and Malaysia.
§ Strong performance from Other International, which comprises the US, South Africa, Brazil and the Middle East with net fee income up 33% in constant currency.
§ Group headcount stands at 2,285 (30 September 2012: 2,273).
§ Strong balance sheet with net cash of £20.0m as at 30 September 2013 (30 September 2012: £6.0m).
Robert Walters, Chief Executive, commented:
"The Group produced another encouraging performance in the third quarter and we continue to trade in line with expectations. The positive signs noted across some markets, which we highlighted in our recent half year results, have continued, albeit at a measured pace.
"We remain mindful of the mixed nature of global market conditions and current economic and political volatility; however we continue to focus on generating increased productivity from our existing businesses and firmly believe that the Group is well positioned to benefit from a sustained recovery."
- Ends -
Further information
Robert Walters plc Robert Walters, Chief Executive Alan Bannatyne, Chief Financial Officer
| +44 20 7379 3333 |
Bell Pottinger Olly Scott Charlie Goodwin | +44 20 7861 3232 |
About Robert Walters
Robert Walters is an international specialist recruitment consultancy with 53 offices spanning 24 countries.
http://www.robertwalters.com/