FINANCIALS: Robert Walters reports positive group profits

Global recruiter Robert Walters has continued to see positive growth with group gross profit up 19% year-on-year, according to a trading update for Q4 2017.

The update, released this morning, reveals group GP of £90.5m, up from £76.1m a year previously, with Asia Pacific net fee income up from £31.8m to £33.6m (up 6%), UK NFI up from £23.1m to £26.2m (up 13%), NFI in Europe up from £17.2m to £22.6m (up 31%) and NFI in the group’s ‘Other International’ operations up from £4.1m to £8.1m (up 97%).

In the UK the group’s London-based financial services, commerce finance, legal and technology operations saw high activity levels, while the group’s Milton Keynes, St. Albans and Manchester-based teams also delivered strong performances.

In Asia-Pacific growth was broad-based, while in Europe, Germany, Spain, the Netherlands and Belgium operations were all strong performers, as was the group’s North America, Brazil, the Middle East and South Africa divisions among its ‘Other International’ operations.
 
Commenting on the group’s performance, CEO Robert Walters pointed to another quarter of record results, with NFI growing 22% year-on-year. 

“Growth was once again broad-based across permanent, contract, interim and recruitment process outsourcing across the group’s geographic regions. 
 
“NFI for the full year is up 20%. With profit forecasts for the full year having been upgraded in response to our December trading update, the board confirms that trading is comfortably in line with market expectations.”
 
The group will publish its full-year results for the year ended 31 December 2017 on 1 March 2018.

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