FINANCIALS: CDI, Heidrick, Robert Walters
27 February 2013
Technical recruiter CDI Corp and professional staffing firm Robert Walters both saw their businesses grow, while net revenues at executive search firm Heidrick & Struggles took a major hit.
Wed, 27 Feb 2013Technical recruiter CDI and professional staffing firm Robert Walters both saw their businesses grow, while net revenues at executive search firm Heidrick & Struggles took a major hit.
CDI
Revenues for the year ending 31 December 2012 hit $1.1bn (£730m), a rise of 4.3% since 2011, while gross profit grew 6.1% to $886m, and the firm recorded an operating profit of $32.3m, up from last year’s $20.4m.
The firm’s Professional Services Staffing (PSS) division saw revenue growth of 6.4% across the year, while more muted rises were seen in the Global Engineering and Technology Solutions (GETS) segment (0.5%), and Management Recruiters International (1.5%).
Heidrick & Struggles
The company’s chief executive officer L Kevin Kelly says “challenging economic conditions and lower confirmations resulted in 2012 financial results that fell short of our expectations, particularly with respect to net revenue”, which dropped 16% compared to 2011, reaching $443.8m.
But the firm still converted a 2011 $33.7m net loss into $6.2m income in 2012 as a result of “improvements to our cost structure”, according to Kelly.
Net revenues for the Americas were the slowest to decline (11%), while Europe took a 25% hit and Asia-Pacific fell by 17%.
Robert Walters
The firm saw revenues rise year-on-year by 7.5% to £567.8m for the calendar year of 2012, while gross profits rose by 2.7% to £188.4m, although profit before taxation halved to £7.7m.
CEO Robert Walters says they took the strategy of diversifying away from financial services – the sector only represents 15% of the group’s net fee income, compared to 22% in 2011.
The perm:contract mix remained at last year’s 69:31% ratio, while the group continued to expand its international operations and now has 53 offices in 24 countries.
CDI
Revenues for the year ending 31 December 2012 hit $1.1bn (£730m), a rise of 4.3% since 2011, while gross profit grew 6.1% to $886m, and the firm recorded an operating profit of $32.3m, up from last year’s $20.4m.
The firm’s Professional Services Staffing (PSS) division saw revenue growth of 6.4% across the year, while more muted rises were seen in the Global Engineering and Technology Solutions (GETS) segment (0.5%), and Management Recruiters International (1.5%).
Heidrick & Struggles
The company’s chief executive officer L Kevin Kelly says “challenging economic conditions and lower confirmations resulted in 2012 financial results that fell short of our expectations, particularly with respect to net revenue”, which dropped 16% compared to 2011, reaching $443.8m.
But the firm still converted a 2011 $33.7m net loss into $6.2m income in 2012 as a result of “improvements to our cost structure”, according to Kelly.
Net revenues for the Americas were the slowest to decline (11%), while Europe took a 25% hit and Asia-Pacific fell by 17%.
Robert Walters
The firm saw revenues rise year-on-year by 7.5% to £567.8m for the calendar year of 2012, while gross profits rose by 2.7% to £188.4m, although profit before taxation halved to £7.7m.
CEO Robert Walters says they took the strategy of diversifying away from financial services – the sector only represents 15% of the group’s net fee income, compared to 22% in 2011.
The perm:contract mix remained at last year’s 69:31% ratio, while the group continued to expand its international operations and now has 53 offices in 24 countries.
