Robert Walters reports sixth successive quarter of NFI growth
7 April 2014
International specialist recruiter Robert Walters recorded its sixth successive quarter of rising net fee income (NFI) in the first quarter of 2104. NFI (in constant currency*) was 11% higher than the same quarter in 2013, according to a trading update.
Mon, 7 Apr 2014International specialist recruiter Robert Walters recorded its sixth successive quarter of rising net fee income (NFI) in the first quarter of 2104. NFI (in constant currency*) was 11% higher than the same quarter in 2013, according to a trading update.
Gross profit Q1 2014 Q1 2013 %change %change
(net fee income) (constant currency*)
Group £48.1m £46.6m 3% 11%
Asia Pacific £19.7m £22.2m (11%) 2%
UK £15.3m £12.7m 21% 21%
Europe £11.0m £10.2m 8% 11%
Other International £2.0m £1.6m 28% 67%
* Constant currency is calculated by applying prior period average exchange rates to local currency results for the current and prior years.
In the UK, the company says that finance and HR in particular are delivering excellent growth in both London and the regions.
The company reports “strong performances from Japan and Hong Kong in Asia Pacific. Market conditions in Australia remain challenging; however, there are some early signs of a return of market confidence.”
It says that performance in Europe was “robust”, “with the Benelux region in particular growing well. Market conditions in France remain tough but we continue to increase market share and activity levels in Spain continue to improve.”
Group headcount rose to 2,412 from 2,307 on 31 December 2013.
Robert Walters, chief executive, says: “The group continues to trade in line with current market expectations with net fee income for the first quarter of £48.1m, an increase of 11% in constant currency; delivering our sixth successive quarter of net fee income growth, in constant currency, across all of the group’s regions.
Gross profit Q1 2014 Q1 2013 %change %change
(net fee income) (constant currency*)
Group £48.1m £46.6m 3% 11%
Asia Pacific £19.7m £22.2m (11%) 2%
UK £15.3m £12.7m 21% 21%
Europe £11.0m £10.2m 8% 11%
Other International £2.0m £1.6m 28% 67%
* Constant currency is calculated by applying prior period average exchange rates to local currency results for the current and prior years.
In the UK, the company says that finance and HR in particular are delivering excellent growth in both London and the regions.
The company reports “strong performances from Japan and Hong Kong in Asia Pacific. Market conditions in Australia remain challenging; however, there are some early signs of a return of market confidence.”
It says that performance in Europe was “robust”, “with the Benelux region in particular growing well. Market conditions in France remain tough but we continue to increase market share and activity levels in Spain continue to improve.”
Group headcount rose to 2,412 from 2,307 on 31 December 2013.
Robert Walters, chief executive, says: “The group continues to trade in line with current market expectations with net fee income for the first quarter of £48.1m, an increase of 11% in constant currency; delivering our sixth successive quarter of net fee income growth, in constant currency, across all of the group’s regions.
