1st Aug 2014 08:32
LONDON (Alliance News) - Robert Walters PLC Friday said that first-half pretax profit increased by more than a third, driven by higher revenue in the UK, Europe, and other international markets that more than offsetting a fall in Asia Pacific.
In a statement, the recruitment consultancy said it made a GBP5.0 million pretax profit in the six months ended June 30, compared with GBP3.7 million in the corresponding period last year. Revenue increased by 7.3% to GBP310.0 million.
Robert Walters increased its interim dividend to 1.65 pence, from 1.54p.
Chief Executive Robert Walters said that the results are testament to the company's decision to invest in the business throughout the downturn, adding that the performance was encouraging in light of the challenging market conditions that continued to prevail in France and Australia.
"It is pleasing to see our larger and more mature businesses in markets such as Japan, Hong Kong and the UK performing strongly. I am also very encouraged that our newer operations in emerging recruitment markets such as Thailand, Malaysia, Vietnam and Taiwan have performed well. Resource Solutions, our recruitment process outsourcing division continued to deliver strong net fee income growth and expand its client base across the UK, Europe and Asia," Walters said in a statement.
"Trading since the half year has been in line with our expectations and the group remains confident of its prospects for the full year," the CEO added.
Robert Walters shares were Friday quoted up 1.1% at 316.31 pence.
By Samuel Agini; [email protected]; @samuelagini
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