Robert Walters releases Q1 interim management statement

Financial and operational highlights

Gross profit (Net fee income)

Q1 2014

Q1 2013

% change

% change (constant currency*)

Group

&pound48.1m

&pound46.6m

3%

11%

Asia Pacific

&pound19.7m

&pound22.2m

(11%)

2%

UK

&pound15.3m

&pound12.7m

21%

21%

Europe

&pound11.0m

&pound10.2m

8%

11%

Other International

&pound2.0m

&pound1.6m

28%

67%

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

Other highlights included:

&sect  Strong performances from Japan and Hong Kong in Asia Pacific. Market conditions in Australia remain challenging, however there are some early signs of a return of market confidence.

&sect  Robust performance in Europe, with the Benelux region in particular growing well. Market conditions in France remain tough but we continue to increase market share and activity levels in Spain continue to improve.

&sect  Group headcount of 2,412 (31 December 2013: 2,307).

&sect  Strong balance sheet with net cash of &pound7.4m as at 31 March 2014 (31 March 2013: &pound2.4m).

Robert Walters, chief executive, commented, “The Group continues to trade in line with current market expectations with net fee income for the first quarter of &pound48.1m, an increase of 11% in constant currency delivering our sixth successive quarter of net fee income growth, in constant currency, across all of the Group’s regions.

The Group will publish a trading update for the three months ending 30 June 2014 on 7 July 2014.