Robert Walters Says Performance is Satisfactory
Robert Walters plc has issued its Interim Management Statement for the three month period from 1 July 2008 to 30 September 2008.
The Group performed satisfactorily in the third quarter, with net fee income 6% above that achieved in the same period as 2007. This performance was achieved against a background of ongoing difficult conditions in the UK and a weakening of demand from financial sector clients in certain Asia Pacific markets.
In view of these conditions, and following the action taken in the first half of the year in the UK, we have continued to reduce headcount where appropriate in those markets affected.
As reflected in these results, the Group's increased international spread of business and diversification of recruitment disciplines into new areas continues to provide a degree of protection in the current challenging economic climate.