Connecting to LinkedIn...


Robert Walters Puts In A Solid Performance

Robert Walters Puts In A Solid Performance

Trading update for the fourth quarter ended 31 December 2012


Gross Profit (NFI)             Q4 2012               Q4 2011               % change             % change

Asia Pacific                       &pound23.5m                 &pound22.9m                 3%                       4%

UK                                         &pound12.5m                 &pound12.0m 4%       N/A

Europe                                 &pound10.1m                 &pound10.5m (4%)       2%

The Americas and South Africa  &pound1.3m   &pound1.0m                   32%                     43%                    

Group                                   &pound47.4m                 &pound46.4m                 2%                       4%

• Overall performance in line with expectations.

• Solid fourth quarter results with Group net fee income up by 2%.

• 74% of Group's net fee income generated from international business.

• Global market conditions remain challenging.

• Commendable UK performance despite difficult economic backdrop.

• Group headcount decreased to 2,233 (30 September 2012: 2,273).

• Balance sheet remains strong with current net cash of &pound12m (31 December 2011: &pound17m).

Robert Walters, Chief Executive, commented: "Group net fee income for the year was &pound188.2m (2011: &pound183.6m). This is a solid performance and we expect to meet our 2012 targets.

"Management will continue to use its experience of trading through cycles to maintain a stable course in a difficult economic climate and grow our business for the long term.

"The market is still challenging and there is yet to be an indication that the situation will improve in 2013, but we will continue to selectively invest in areas which will enable us to build our market position. With limited visibility and continued uncertainty, we have already taken action to manage our cost base and will continue to do so."


Articles similar to

Articles similar to