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ROBERT WALTERS PLC

ROBERT WALTERS PLC

Half-yearly financial results for the six months ended 30 June 2011

CONTINUED INTERNATIONAL GROWTH

FINANCIAL HIGHLIGHTS

2011

2010

% change

% change (constant currency*)

Revenue

&pound241.6m

&pound188.8m

28%

25%

Net fee income (gross profit)

&pound89.1m

&pound72.3m

23%

21%

Operating profit

&pound7.2m

&pound5.2m

38%

34%

Profit before taxation

&pound7.1m

&pound5.1m

39%

34%

&middot Basic earnings per share of 6.5p (2010: 4.8p).

&middot Interim dividend increased by 5% to 1.47p per share (2010: 1.40p).

&middot Net cash of &pound10.7m as at 30 June 2011 (30 June 2010: &pound12.9m).

OPERATIONAL HIGHLIGHTS

&middot 74% of Group's net fee income now comes from outside of the UK (2010: 70%).

&middot Asia Pacific increased net fee income by 29% (24%*) to &pound44.5m (2010: &pound34.4m).

Three new offices opened:
Chatswood (sixth office in Australia).

Nanjing(fourth office in mainland China).

Ho Chi Minh City(first office in Vietnam).

UKnet fee income grew by 6% to &pound22.9m (2010: &pound21.6m).

Europenet fee income up by 34% (34%*) to &pound19.4m (2010: &pound14.4m).

Strong growth in France, the region's largest business.

Excellent performance from our newly established business in Germany.

Healthy mix of permanent (71%) and contract (29%) recruitment net fee income (2010: 70%:30%).

Group headcount of 1,932 (2010: 1,539).

New offices planned for Indonesia, Taiwan and Germany in the second half of the year.

Robert Walters, Chief Executive, commented:

"The Group performed well during the first half of the year with growth largely driven by our international businesses which now represent 74% of the Group's net fee income.

"We are committed to expanding in those markets offering the best prospects for growth and our future investment plans reflect this."

* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.

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