‘Strong’ Q2 results for Robert Walters
Expansion into Indonesia, Taiwan and Germany is on the horizon in H2 as international recruiter Robert Walters reports “strong” results driven by its international business for for the second quart
Expansion into Indonesia, Taiwan and Germany is on the horizon in H2 as international recruiter Robert Walters reports “strong” results driven by its international business for for the second quarter ended 30 June 2011.
The group’s results reveal:
| Gross profit (net fee income) | Q2 2011 | Q2 2010 | % change | % change (constant currency*) |
| Asia Pacific | £25.1m | £19.5m | +28% | +25% |
| UK | £12.1m | £11.6m | +5% | N/A |
| Europe | £10.6m | £7.8m | +35% | +31% |
| The Americas and South Africa | £1.5m | £0.8m | +82% | +91% |
| Group | £49.3m | £39.7m | +24% | +21% |
· Strong results, driven by international businesses, with 75% of net fee income (NFI) now derived from outside of the UK (2010: 71%).
· Europe grew strongly, particularly in France and in the group’s newly established business in Germany.
· Asia Pacific delivered a solid performance:
• fourth mainland China office opened in Nanjing
• first office opened in Vietnam in Ho Chi Minh City
· Strong growth from the Group’s recently opened business in Sao Paulo.
· NFI in the UK has grown against a difficult economic backdrop.
Chief executive Robert Walters says: “The group performed well across all regions during the second quarter and as a result NFI for the half year was up 23% year-on-year. This has been largely driven by our international businesses, which now represent 75% of the group’s NFI.
“Our future investment plans reflect the group’s ongoing commitment to expanding in markets offering the best opportunities for growth. Further office openings in Indonesia, Taiwan and Germany are planned during the second half of the year.”
The group is to publish its half-yearly financial results for the six months ended 30 June 2011 on 4 August.
