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Robert Walters Americas, South Africa Revenue Rises

August 02 2012

Robert Walters, a U.K.-based staffing firm, reported first-half revenue for the company’s Americas and South Africa segment rose 16 percent to £2.9 million (US$4.5 million) from £2.5 million in the first half of 2011.

First-half revenue for the company as a whole rose 13.8 percent to £275.0 million (US$429.4 million), compared with £241.6 million in the year-ago period.

The company reported that market conditions, as well as client and candidate confidence levels, remained fragile during the first half of 2012, with permanent recruitment within the banking sector most severely affected, including the firm’s business in New York.

Gross margin narrowed to 33.6 percent in the first half from 36.9 percent in the year-ago period.

The company reported first-half net income fell to £2.0 million (US$3.1 million), a decrease of 57.4 percent from £4.8 million in the year-ago period.

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