Strong international growth for Robert Walters_2
Strong international growth has helped global recruiter Robert Walters offset a fall in net fee income within the UK for Q3 on the same period last year, according to an interim management statemen
Strong international growth has helped global recruiter Robert Walters offset a fall in net fee income within the UK for Q3 on the same period last year, according to an interim management statement for the third quarter ended 30 September 2011.
The statement reveals:
| Gross profit (net fee income) | Q3 2011 | Q3 2010 | % change | % change (constant currency*) |
| Asia Pacific | £25.4m | £21.5m | +18% | +10% |
| UK | £12.1m | £12.6m | -4% | N/A |
| Europe | £9.2m | £7.4m | +24% | +18% |
| The Americas and South Africa | £1.3m | £0.9m | +44% | +44% |
| Group | £48.0m | £42.5m | +13% | +8% |
* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.
Chief executive Robert Walters says: “During the third quarter, we have increased group net fee income (NFI) and achieved strong growth across our international businesses. NFI growth, while positive, has slowed as markets have become more challenging.
“Group headcount increased by 4% to 2,001, mainly in Asia and Continental Europe and year to date we have opened five offices, two in new countries.
“The group is in a robust position as a result of this strategy of international growth and diversification, and we continue to invest in those markets where longer-term growth opportunities are strongest.”
Robert Walters will publish its Q4 and full-year trading update on 6 January 2012.
