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UK — Robert Walters gross profits up by +27% in constant currency

08 April 2010

Robert Walters Plc (RWA:LSE), the recruitment group, today releases an interim management statement for the first quarter ending 31 March 2010.

Group Q1 2010 gross profits were up by +27% in constant currency to 32.6 million Pounds compared to 25 million Pounds in Q1 2009.


In the UK, Q1 2010 gross profits were up by +23% to 10.1 million Pounds compared to 8.2 million Pounds in Q1 2009.

In Europe Q1 2010 gross profits were down by -5% in constant currency to 6.7 million Pounds compared to 7.1 million Pounds in Q1 2009.

Group headcount was up from 1,261 in the previous quarter to 1,402.

Robert Walters, Chief Executive, commented "we have seen a significant improvement in recruitment activity in the first quarter, with Asia Pacific in particular delivering a very strong performance. Given our position as one of the leading recruitment brands in this region, the Group is well placed to take advantage of improving trading conditions."

"We are continuing to invest in growing our coverage across the region with a third mainland China office planned in Beijing later this year and South Korea and Vietnam identified as target markets."

"The Group is also benefiting from increased hiring activity in the UK particularly within the banking sector. However trading conditions remain challenging across some markets in Europe. As stated in our recent year-end results we have identified Latin America as a key new market and will be opening an office in Sao Paulo during the second quarter."

In early trading Robert Walter's shares were up by +1.79% to 227 Pence.

 

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