Last checked at 12 Jul 2013 07:00
Robert Walters plc
(the 'Company' or the 'Group')
Trading update for the second quarter ended 30 June 2013
Financial and operational highlights
Gross profit (Net Fee Income) | Q2 2013 (£m) | Q2 2012 (£m) | % change | % change (constant currency*) |
Asia Pacific | 24.3 | 23.9 | 1% | 3% |
UK | 13.9 | 12.1 | 16% | N/A |
Europe | 10.7 | 10.0 | 7% | 2% |
Other International | 2.2 | 1.6 | 35% | 42% |
Group | 51.1 | 47.6 | 7% | 7% |
* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.
§ Group net fee income up 7% on Q2 2012 and sequential quarter-on-quarter net fee income growth of 10%
§ Net fee income increased across all regions
§ UK net fee income up 16%, with increased activity coming through regional offices supported by discipline diversification
§ Resource Solutions continues to perform well, winning 2 new contracts in the UK and 3 in Asia Pacific during the quarter
§ Group headcount stands at 2,212 (31 December 2012: 2,233)
§ Strong balance sheet with net cash of £6.9 million as at 30 June 2013 (30 June 2012: £4.5 million)
Robert Walters, Chief Executive, commented:
"The Group continues to trade in line with expectations and delivered a solid performance in the second quarter. In the UK, we have seen improved activity particularly in our regional offices and have grown our market share, placing an increased number of candidates in sectors such as commerce, HR, legal and IT. While the first half results are encouraging, we remain cautious about the overall global macroeconomic outlook and continue to manage our cost base accordingly."
The Company will publish its half-yearly financial results for the six months ended 30 June 2013 on 1 August 2013.
- Ends -
Further information
Robert Walters plc Robert Walters, Chief Executive Alan Bannatyne, Chief Financial Officer
| +44 20 7379 3333 |
Pelham 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/