Robert Walters PLC, a London-based professional staffing firm, reported a 5.5% increase in full-year 2008 revenue to GBP337.3 million (US$488.4 million).

"Whilst the effects of the financial crisis were largely confined to the world's major financial centers during the first half of 2008, the economic downturn spread rapidly during the second half and impacted on our business more widely," according to Chief Executive Robert Walters.

Revenue in its U.S. and South Africa geographic segment fell 14.4% to GBP2.1 million (US$3.1 million). Revenue also fell 10.4% in its United Kingdom segment to GBP133.2 million (US$192.9 million).

However, revenue rose 10.4% to GBP137.1 million (US$198.5 million) in its Asia Pacific segment and up 46.0% to GBP64.9 million (US$93.9 million) in its Europe segment.

2008 gross margin for the company was 41.1%, up from 40.3% in 2007.

Full-year net income fell 29.9% to GBP12.2 million (US$17.7 million).

The company reported its headcount was cut by 7% since the first half of the year to 1,571.

Robert Walters PLC
For the full year ended Dec. 31, 2008, compared with the previous year.
Revenue: GBP337.3 million (US$488.4 million), +5.5%
Net income: GBP12.2 million (US$17.7 million), -29.9%