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View All NewsRobert Walters’ revenue up 7% in constant currency for 2018; deputy CEO stepping down
Robert Walters plc, a UK-based global staffing provider, reported revenue rose 7% in constant currency for 2018. The company also announced Giles Daubeney will be stepping down from the board and his role as deputy CEO after working for the company for more than 30 years.
Daubeney will officially step down on May 17 at the company’s annual general meeting. He was included in Staffing Industry Analysts 2018 Staffing 100 Europe list of most influential people in the European staffing industry. Daubeney joined the company in 1988 and became deputy CEO in January 2016.
| (£ thousands) | FY 2018 | FY 2017 | % change | % change (in constant currency) | FY 2018 (US$ thousands) |
| Revenue | £1,233,171 | £1,165,776 | 5.8% | 7% | $1,564,919 |
| Gross profit | £392,018 | £345,248 | 13.5% | 15% | $497,479 |
| Gross margin | 31.8% | 29.6% | |||
| Profit for the year | £35,562 | £29,335 | 21.2% | $45,129 |
US operations are included in the firm’s “other international” category, which also includes Brazil, Canada, South Africa and the Middle East; net fee income in this division rose 14% in constant currency.
Revenue by geography
| (£ thousands) | FY 2018 | FY 2017 | % change | FY 2018 (US$ thousands) |
| Asia Pacific | £394,059 | £370,248 | 6.4% | $500,069 |
| UK | £571,864 | £569,610 | 0.4% | $725,707 |
| Europe | £237,075 | £189,056 | 25.4% | $300,853 |
| Other international | £30,173 | £36,862 | -18.1% | $38,290 |
Quote
“It’s inevitable that the current uncertainty surrounding Brexit will continue to affect client and candidate confidence in the UK,” Chief Executive Robert Walters said. “We are a truly global business with 73% of net fee income derived from outside of the UK, a global footprint covering 30 countries and well-established operations in all those locations that might benefit from any potential movement of business and staff from the UK. 2019 has started well, in line with the board’s expectations, and the group is well positioned to continue to take advantage of market opportunities as they arise.”
Share price and market cap
Robert Walters shares closed up 12.17% on Friday to £590.00; the company had a market cap of £445.9 million, according to FT.com.