Robert Walters - Positive UK Trading
ROBERT WALTERS PLC
Interim management statement for the third quarter ending 30 September 2010
Group Q3 gross profit (net fee income) up 65% (56%*) to 42.5m (2009: 25.8m).
Asia Pacific Q3 gross profit up 92% (70%*) to 21.5m (2009: 11.2m).
UK Q3 gross profit up 49% (49%*) to 12.6m (2009: 8.5m).
Europe Q3 gross profit up 33% (40%*) to 7.4m (2009: 5.6m).
The Americas & South Africa Q3 gross profit up 61% (49%*) to 0.9m (2009: 0.6m).
Net cash position remains strong (16m as at 30 September 2010).
Group headcount of 1,640 (30 September 2009: 1,232).
New offices opened in Germany and South Korea: the Group now has 41 offices in 20 countries.
Robert Walters, Chief Executive, commented: "We are continuing to perform extremely well, with our Asia Pacific business maintaining its strong momentum. Trading in the UK has been positive, in spite of continued economic uncertainty and our offices in Europe have done well to achieve a healthy increase in net fee income during the traditionally quieter summer period.
"We have already taken steps to maximise opportunities in territories where we see strong growth prospects with our new offices in Germany and South Korea further extending our global footprint."
* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.