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Robert Walters UK NFI up 5% in Q4 2015

Robert Walters has released its fourth quarter results for the period ending 31st December 2015.


Its Group net fee income (NFI) increased by 10% year-on-year in constant currency.


Q4 2015 UK gross profit was £19.9m, up 5% on Q4 2014 (£19.0m). In Europe, gross profit was £12.4m, an 8% rise over Q4 2014 (£11.5m). Asia Pacific gross profit totalled £24.3m, up 5% on Q4 2014 (£23.2m). Gross profit for other international business in Q4 2015 was £2.5m, an increase of 1% (Q4 2014 £2.5m).


Robert Walters revealed permanent recruitment activity across the UK was noticeably slower in the fourth quarter, with financial services particularly subdued. It also confirmed its subsidiary company Resource Solutions won two major deals during the period.


Excellent results were reported in The Netherlands, Belgium and Spain, whilst Switzerland also grew strongly, albeit from a low base. Building on the strong growth in Spain, Robert Walters have opened a new office in Barcelona. The company also noted an improvement in permanent hiring activity in France.


The company’s emerging markets in Asia continued to perform strongly with Indonesia, Taiwan, Thailand and Vietnam all producing excellent growth. Its larger and well-established businesses in the Asia region also produced solid results with Japan, Hong Kong and mainland China delivering the strongest rates of net fee income growth.


There was also another quarter of net fee income growth in constant currency in Australia with Sydney performing particularly well.


Other International (US, Middle East, South Africa and Brazil) net fee income was broadly flat year-on-year.


Gross profit (Net fee income)

Q4 2015


Q4 2014


% change

% change (constant currency*)
















Asia Pacific















Other International






Robert Walters, chief executive officer, commented, “The Group produced a positive performance; delivering another quarter of double-digit net fee income growth in constant currency. Net fee income for the full year is up 12% in constant currency, with profit before taxation remaining in line with current market expectations.


“Looking ahead, notwithstanding ongoing global market uncertainty, our strong blend of income streams, our truly global footprint, our powerful brand and experienced senior management team ensures the Group is well positioned for the future.”


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