‘Solid performance” for Robert Walters
International recruiter Robert Walters has seen its Asia Pacific business deliver a “solid performance” as profits have risen, according to an interim management statement for Q1 ended 31 March.
International recruiter Robert Walters has seen its Asia Pacific business deliver a “solid performance” as profits have risen, according to an interim management statement for Q1 ended 31 March.
The group’s results reveal:
| Gross Profit (Net Fee Income) | Q1 2011 | Q1 2010 | % change | % change (constant currency*) |
| Asia Pacific | £19.3m | £14.9m | +29% | +23% |
| UK | £11.1m | £10.1m | +10% | +10% |
| Europe | £8.9m | £6.7m | +32% | +37% |
| The Americas and South Africa | £0.9m | £1.0m | -12% | -12% |
| Group | £40.1m | £32.6m | +23% | +21% |
· Net cash of more than £20m as at 31 March 2011 (£15.6m as at 31 March 2010)
· Group headcount of 1,838 (31 December 2010: 1,735).
Chief executive Robert Walters says: “Group net fee income is up 23% year on year in the first quarter, with Europe and Asia Pacific delivering a solid performance. Following the recent events in Japan, I am pleased to say that our Japanese business is now operational, although it may be some time before market conditions fully recover.
“As stated in our recent year-end results, the outlook for the year remains broadly positive. We continue to pursue our strategy of international expansion and diversification, having chosen Brazil, China and Germany as new markets providing strong opportunities for growth.”
