Q4 Trading Update

RNS Number : 0638Z

Robert Walters PLC

07 January 2011

 



7 January 2011

ROBERT WALTERS PLC

Trading update for the fourth quarter ended 31 December 2010

FINANCIAL HIGHLIGHTS

·      Group Q4 gross profit (net fee income) up 42% (37%*) to £40.6m (2009: £28.6m).

·      Asia Pacific Q4 gross profit up 54% (39%*) to £19.7m (2009: £12.8m).

·      UK Q4 gross profit up 37% (37%*) to £11.6m (2009: £8.5m).

·      Europe Q4 gross profit up 24% (30%*) to £8.4m (2009: £6.8m).

·      The Americas and South Africa Q4 gross profit up 71% (63%*) to £0.8m (2009: £0.5m).

·      Net cash position remains strong, in excess of £20m as at 31 December 2010.

·      Group headcount of 1,735 (31 December 2009: 1,269).  

Robert Walters, Chief Executive, commented:

"Performance across the Group has been strong, resulting in significantly increased net fee income year on year. Group net fee income for the year ended 31 December was up 49% (43%*) to £155.3m (2009: £104.4m). Markets continued to be very active and China, in particular, has delivered excellent growth.

"We enter 2011 with confidence.  We continue to invest in the areas where we see the most potential, seeking to benefit from our long term strategy of geographical expansion.  Our new offices opened during the quarter in Beijing, Seoul and Dusseldorf are already generating revenue and, notwithstanding an uncertain economic backdrop in the UK, we expect levels of activity across the Group to remain strong."

The Group will release its Final Results for the year ended 31 December 2010 on Wednesday 2 March 2011.

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

ENQUIRIES:

Robert Walters plc	[phone]
Robert Walters, Chief Executive Giles Daubeney, Group Operating Officer
Alan Bannatyne, Group Finance Director
Pelham Bell Pottinger
James Henderson	[phone]
	[e-mail]
Archie Berens	[phone]
	[e-mail]

 

END

 

 

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