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ROBERT WALTERS PLC Results

ROBERT WALTERS PLC

Interim management statement for the third quarter ended 30 September 2011

FINANCIAL AND OPERATIONAL HIGHLIGHTS

Gross Profit (Net Fee Income)

Q3 2011

Q3 2010

% change

% change (constant currency*)

AsiaPacific

&pound25.4m

&pound21.5m

18%

10%

UK

&pound12.1m

&pound12.6m

-4%

N/A

Europe

&pound9.2m

&pound7.4m

24%

18%

The Americas and South Africa

&pound1.3m

&pound0.9m

44%

44%

Group

&pound48.0m

&pound42.5m

13%

8%

&middot 75% of Group's net fee income generated from international businesses.

&middot Strong growth in France and Germany: second German office opened in Frankfurt.

&middot Further investment in Asia, with the opening of the Group's first office in Indonesia.

&middot UK market conditions remain challenging.

&middot Recently opened office in Sao Paulo, the Group's first in South America, continues to perform well.

&middot Group headcount of 2,001 (30 June 2011: 1,932).

&middot All major office moves (London, Singapore and Sydney) successfully completed.

&middot Balance sheet remains strong, with net cash in excess of &pound5m as at 30 September 2011 (&pound10.7m as at 30 June 2011).

Robert Walters, Chief Executive, commented:

"During the third quarter, we have increased Group net fee income and achieved strong growth across our international businesses. Net fee income growth, whilst positive, has slowed as markets have become more challenging. Group headcount increased by 4% to 2,001, mainly in Asia and Continental Europe and year to date we have opened five offices, two in new countries. The Group is in a robust position as a result of this strategy of international growth and diversification and we continue to invest in those markets where longer term growth opportunities are strongest."

The Group will publish its fourth quarter and full year trading update on 6 January 2012.

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