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View All NewsUK – Robert Walters’ Q4 net fee income rises 11% in constant currency
International recruitment firm Robert Walters (RWA: LSE) reported group net fee income rose 11% in constant currency in the fourth quarter to £76.1 million. The increase was 28% when not measured in constant currency.
| Net Fee Income | Q4 2016 | Q4 2015 | Change | Constant Currency |
| Group | £76.1 million | £59.1 million | 28% | 11% |
| Asia Pacific | £31.7 million | £24.3 million | 30% | 3% |
| UK | £23.1 million | £19.9 million | 16% | 16% |
| Europe | £17.2 million | £12.4 million | 38% | 15% |
| Other International | £4.1 million | £2.5 million | 62% | 32% |
According to Robert Walters, 70% of group net fee income was generated outside of the UK.
“All of our regions grew net fee income during the quarter and we opened three new offices, Lisbon, Toronto and Penang [Malaysia]. Net fee income for the full year is up 9% in constant currency and profit before taxation is expected to be slightly ahead of current market expectations”, Robert Walters, Chief Executive, said.
The company said that emerging markets in Asia continued to perform well, however, market conditions in Greater China remain challenging. Furthermore the company reported activity levels in Australia slowed against tough comparatives, while New Zealand delivered a record quarter.
Robert Walters will publish its final results for the year ended 31 December 2016 on 15 March 2017.
In trading yesterday, Robert Walters closed at £360.00, up 0.84% on the day and 4.64% below its 52-week high of £377.50, set on 14 January 2016. Based on its current share price, the company has a market value of £272.8 million.