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View All NewsUK – Robert Walters publishes upbeat trading update for Q2
Robert Walters (RWA: LSE), the international recruitment firm, has provided a trading update for the second quarter ending 30 June 2016. Group net fee income increased by 16% or 10% in constant currency (CC) to £69.3 million, compared to £60 million during the same period last year.
| Q2 2016 | Q2 2015 | Change | Change (CC) | |
| Asia Pacific | £29.4 million | £25.8 million | 14% | 7% |
| UK | £21.6 million | £20.2 million | 7% | 7% |
| Europe | £15.4 million | £11.2 million | 37% | 26% |
| Other International | £2.9 million | £2.9 million | 2% | (1%) |
| Total | £69.3 million | £60.0 million | 16% | 10% |
According to Robert Walters, 69% of group net fee income was derived from outside of the UK. Growth rates were the strongest in the group’s Asia Pacific and Continental European regions.
“The group performed well in the second quarter increasing net fee income by 16% year-on-year with our Asia Pacific and Continental Europe regions again delivering the strongest performances,” Robert Walters, Chief Executive, said.
“Looking ahead, despite the uncertainty in the UK market, the strength of our globally diversified business, our robust balance sheet and blend of permanent, contract and recruitment process outsourcing revenue streams, ensures we are well positioned to take advantage of growth opportunities where they arise.”
The company will publish its half-year results for the six months ended 30 June 2016 on 28 July 2016.
In trading today Robert Walters Plc (RWA:LSE) traded at £265.00, up 3.92% on the day and 9.5% above its 52-week low of £242.00, set on 28 Jun 2016. Based on its current share price, the company has a market value of £197.43 million.