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Robert Walters plc Trading update for the second quarter

Robert Walters plc Trading update for the second quarter

Financial and operational highlights

Gross profit (Net Fee Income)

Q2 2013

(&poundm)

Q2 2012

(&poundm)

% change

% change (constant currency*)

Asia Pacific

24.3

23.9

1%

3%

UK

13.9

12.1

16%

N/A

Europe

10.7

10.0

7%

2%

Other International

2.2

1.6

35%

42%

 

 

Group

51.1

47.6

7%

7%

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

&sect Group net fee income up 7% on Q2 2012 and sequential quarter-on-quarter net fee income growth of 10%

&sect Net fee income increased across all regions

&sect UK net fee income up 16%, with increased activity coming through regional offices supported by discipline diversification

&sect Resource Solutions continues to perform well, winning 2 new contracts in the UK and 3 in Asia Pacific during the quarter

&sect Group headcount stands at 2,212 (31 December 2012: 2,233)

&sect Strong balance sheet with net cash of &pound6.9 million as at 30 June 2013 (30 June 2012: &pound4.5 million)

Robert Walters, Chief Executive, commented:

"The Group continues to trade in line with expectations and delivered a solid performance in the second quarter. In the UK, we have seen improved activity particularly in our regional offices and have grown our market share, placing an increased number of candidates in sectors such as commerce, HR, legal and IT. While the first half results are encouraging, we remain cautious about the overall global macroeconomic outlook and continue to manage our cost base accordingly."

The Company will publish its half-yearly financial results for the six months ended 30 June 2013 on 1 August 2013.

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