8th Oct 2013 07:17
LONDON (Alliance News) - International recruitment consultancy Robert Walters PLC Tuesday reported higher gross profits for the third quarter, boosted by strong UK and international growth, and from its recruitment-process outsourcing business.
In an interim management statement, the recruitment consultancy said that its gross profits, or net fee income, which is revenue from account-related charges to customers, rose 10% in the third quarter on a constant currency basis to GBP51.9 million, from GBP48.4 million a year earlier.
Robert Walters reported net fee income growth, on a constant-currency basis, across all regions for the fourth successive quarter, although Europe remained the weak link amongst the group, with a net fee income of GBP10.3 million, compared with GBP9.5 million a year earlier.
The group said that it saw a strong third-quarter performance from the US, South Africa, Brazil and the Middle East, with net fee income up 33% in constant currencies to GBP2.1 million.
It said that its UK division also performed strongly, with net fee income up 21% to GBP15.8 million, boosted by strong growth in its recruitment-process outsourcing business, Resource Solutions.
Robert Walters said that, within Asia Pacific, weaker market conditions in Australia offset strong performance from Japan and Malaysia, resulting in a slight fall in the region's gross profit to GBO23.7 million, from GBP24.0 million a year earlier.
It said that its group headcount stands at 2,285, only marginally higher that 2,273 a year earlier, but supported by growth in its Resource Solutions business.
The group said that its balance sheets remains strong, with net cash of GBP20 million as at September 30, compared with GBP6 million the prior year.
It said it continues to trade in line with expectations.
Robert Walters shares were down 1.2% after the open Tuesday, trading at 306.25 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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