FINANCIALS: Robert Walters sees huge potential for growth of UK outsourcing business

Year-on-year annual profits are up 80% at Robert Walters and the group’s chief executive sees “huge potential” for further growth of the global professional services staffing specialist’s outsourcing business in the UK.

Thu, 26 Feb 2015Year-on-year annual profits are up 80% at Robert Walters and the group’s chief executive sees “huge potential” for further growth of the global professional services staffing specialist’s outsourcing business in the UK.

The group’s results for the year ended 31 December 2014, published this morning [26 February], reveal net fee income increased by 8% to £215.3m in 2014 from £199.2m in 2013.

Meanwhile, revenues grew from £597.7m in 2013 to £679.6m in 2014, along with profit before tax rising 80% to £18.2m year-on-year from £10.1m in 2013.

Commenting on projections for growth of the firm’s UK business, CEO Robert Walters told Recruiter while he expects “more of the same” on the recruitment front, there’s huge potential for the group’s outsourcing business in the UK.

“When it comes to outsourcing, that can grow quite rapidly,” he said. “That can grow like an ad agency where you can win a big client that can transform your business. We’re doing quite well in that.”

Further afield, Recruiter revealed last month the group was looking into opening an office in the state of Penang, to the North of the Malaysian capital Kuala Lumpur.

Robert Walters’ chief operating officer Giles Daubeney, who has just returned from the region, told Recruiter he now expects the office to open before the end of this year.

“We’re currently continuing to do our research in that market,” he said. “We have been looking at one or two potential people, externally and internally, to launch that market for us.

“The key to this is finding the right person either internally, which is the preference, or externally to open and run that business for us.”

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