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Another Encouraging Performance from Robert Walters

Another Encouraging Performance from Robert Walters 

Robert Walters plc has announced its Interim management statement for the third quarter ended 30 September 2013 

Financial and operational highlights

Gross profit (Net Fee Income)

Q3 2013

Q3 2012

% change

% change (constant currency*)

Asia Pacific

&pound23.7m

&pound24.0m

(1%)

7%

UK

&pound15.8m

&pound13.1m

21%

21%

Europe

&pound10.3m

&pound9.5m

8%

0%

Other International

&pound2.1m

&pound1.8m

19%

33%

 

 

Group

&pound51.9m

&pound48.4m

7%

10%

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

&sect Net fee income growth, in constant currency, across all of the Group's regions for the fourth successive quarter.

&sect UK performed strongly with net fee income up 21% underpinned by excellent growth in Resource Solutions and the regions in particular.

&sect Double-digit growth in constant currency across Asia Pacific, excluding Australia where market conditions remain challenging, with strong performances from Japan and Malaysia.

&sect Strong performance from Other International, which comprises the US, South Africa, Brazil and the Middle East with net fee income up 33% in constant currency.

&sect Group headcount stands at 2,285 (30 September 2012: 2,273).

&sect Strong balance sheet with net cash of &pound20.0m as at 30 September 2013 (30 September 2012: &pound6.0m). 

Robert Walters, Chief Executive, commented: "The Group produced another encouraging performance in the third quarter and we continue to trade in line with expectations. The positive signs noted across some markets, which we highlighted in our recent half year results, have continued, albeit at a measured pace.

"We remain mindful of the mixed nature of global market conditions and current economic and political volatility however we continue to focus on generating increased productivity from our existing businesses and firmly believe that the Group is well positioned to benefit from a sustained recovery."

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