Revenues rise at Robert Walters
International recruiter Robert Walters says it is committed to expanding into markets, which offer best prospects as revenues rise, according to its H2 results for the six months ended 30 June 2011
International recruiter Robert Walters says it is committed to expanding into markets, which offer best prospects as revenues rise, according to its H2 results for the six months ended 30 June 2011.
The group’s results reveal:
| 2011 | 2010 | % change | % change (constant currency*) | |
| Revenue | £241.6m | £188.8m | 28% | 25% |
| Net fee income (gross profit) | £89.1m | £72.3m | 23% | 21% |
| Operating profit | £7.2m | £5.2m | 38% | 34% |
| Profit before tax | £7.1m | £5.1m | 39% | 34% |
· Net cash of £10.7m as at 30 June 2011 (30 June 2010: £12.9m).
· 74% of group’s net fee income now comes from outside of the UK (2010: 70%).
· Asia Pacific increased net fee income by 29% (24%*) to £44.5m (2010: £34.4m).
· UK net fee income grew by 6% to £22.9m (2010: £21.6m).
· Europe net fee income up by 34% (34%*) to £19.4m (2010: £14.4m).
The group adds it plans new offices planned for Indonesia, Taiwan and Germany in H2.
Chief executive Robert Walters says: “The group performed well during the first half of the year with growth largely driven by our international businesses which now represent 74% of the group’s net fee income.
“We are committed to expanding in those markets offering the best prospects for growth and our future investment plans reflect this.”
