Global recruitment firm Robert Walters’ global net fee income (NFI) dropped in Q2, due mainly to a 5% fall in NFI in its Asia Pacific operations, which accounts for just over half of the group.
Chief executive Robert Walters says the company “delivered a stable performance against a backdrop of deteriorating conditions in the global financial markets”.
Broken down by geographical sectors, the company’s Q2 2012 results read:
- Asia Pacific: NFI of £23.9m, down 5% on Q2 2011 (down 6% when expressed at constant currency)
- UK: £12.1m, no change on last year
- Europe: £10m, down 5% (up 3% at constant currency)
- The Americas and South Africa: £1.6m, up 4% (up 10% at constant currency)
- Group: £47.6m, down 3% (down 2% at constant currency)
Three new offices opened during the period, in Milton Keynes in England, Parramatta, Australia and Rio de Janeiro in Brazil. The group now has 51 offices in 23 countries, and a headcount of 2,159, up from the 2,047 it had at the close of 2011.
Walters adds: “We have a strong balance sheet and an experienced management team. We will continue to maintain our presence in the territories where market conditions are challenging, whilst also investing in the business for the long term to take advantage of growth opportunities in new and emerging markets."
The group will publish its half-yearly financial results for the six months ended 30 June 2012 on 2 August.