International recruiter Robert Walters has recorded ’strong’ results and plans to expand its international footprint, according to its half-yearly financial results for the six months ending 30 June 2010

The group’s results reveal:

·     Net fee income (gross profit) up 45% (39%*) to £72.3m (2009: £50m).

·     operating profit of £5.2m (£4.4m*) (2009: operating loss of £2.3m).

·     profit before tax of £5.1m (£4.3m*) (2009: loss before taxation of £2.6m).

·     net cash of £12.9m as at 30 June 2010 (30 June 2009: £22.5m).

Robert Walters, chief executive, says: “These are very strong results on the back of a very difficult year in 2009. Our strategy of maintaining our global network of offices and minimising headcount reductions has paid off and we are already benefiting from the improved economic environment in many of our key markets.

“Our forward strategy is clear; keep a watchful eye on our cost base given economic conditions remain uncertain, but extend the Robert Walters footprint and brand in obvious growth markets such as Asia and South America. We believe this strategy will generate growth and offset any slowdown in other markets.”

*In constant currency. Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.