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Robert Walters UK NFI up 14%

Asia Pacific net fee income grew 9% in constant currency and emerging markets continued to deliver impressive rates of growth with Indonesia, Taiwan, Korea and Vietnam the standout performers. The Group’s larger and well-established businesses in Asia, most notably Japan, Hong Kong, Thailand and Malaysia also produced solid performances.

Australia delivered a fourth successive quarter of net fee income growth in constant currency and other international business, comprising the US, Middle East, South Africa and Brazil, saw NFI up 4% in constant currency.

Group headcount totalled 2,820 (30 June 2015: 2,728), with a significant proportion of the headcount increase attributed to new client wins within Resource Solutions. The balance sheet was strong with net cash of &pound14.0m as at 30 September 2015 (30 June 2015: &pound14.6m). 

Financial and operational highlights

Gross profit (Net fee income)

Q3 2015

Q3 2014

% change

% change (constant currency*)

Group

&pound60.4m

&pound56.8m

6%

11%

Asia Pacific

&pound24.5m

&pound24.3m

1%

9%

UK

&pound21.5m

&pound18.9m

14%

14%

Europe

&pound11.4m

&pound10.8m

5%

15%

Other International

&pound3.0m

&pound2.8m

8%

4%

Robert Walters, chief executive officer, said, “The Group has enjoyed another positive quarter of double-digit net fee income growth in constant currency. Both our emerging market and more well-established recruitment businesses continue to perform well, as has Resource Solutions, the Group’s recruitment process outsourcing business.

“The outlook for the fourth quarter remains positive, with current trading in line with our expectations. The Group remains confident of its prospects for the full year."

The Group will publish a trading update for the fourth quarter ending 31 December 2015 on 11 January 2016.

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