Net fee income (NFI) at international professional recruiter Roberts Walters rose 12% to £44.7m in the first quarter compared to the same quarter in 2011, according to the company’s interim management statement for the first quarter ended 31 March 2012.
- Almost three-quarters (74%) of the group’s NFI was generated from international business
- The group now has 48 offices in 23 countries, including a new office in San Francisco
- The group has net cash of £8.8m as at 31 March 2012 (31 December 2011: £17.1m)
- Group headcount was 2,100 (31 December 2011: 2,047).
Chief executive, Robert Walters, says: "The group produced a record level of NFI for the first quarter; successfully growing NFI across all of our regions against what remains a challenging economic backdrop.
"As I stated in our year-end results announcement in March, there is still a degree of caution among clients and candidates which does vary from region to region and sector to sector. We therefore continue to manage costs sensibly whilst investing where sentiment and long-term growth opportunities are strongest."
Financial highlights
Gross profit (net fee income)
| Q1 2012
| Q1 2011
| % change
| % change (constant currency)
| |
Asia Pacific
| £21.9m | £19.3m
| +13% | +7% | |
| UK | £11.8m | £10.8m | +9% | +9% | |
Europe
| £9.9m | £8.9m | +12% | +14% | |
| The Americas and South Africa | £1.1m | £0.9m | +26% | +29% | |
| Group | £44.7m | £39.9m | +12% | +10% | |
|
|
|
|
|
|
The group will publish a trading update for the six months ended 30 June 2012 on 5 July 2012.
