11th Jan 2016 07:46
LONDON (Alliance News) - Recruiter Robert Walters PLC on Monday said its net fee income grew in the fourth quarter, as a solid performance across its operations offset weaker foreign currencies eating into its growth in sterling.
The company said its group net fee income grew 5.0% in the quarter to the end of December but would have increased 10% in constant currencies.
UK net fee income rose 5.0%, driven by a strong performance for Robert Walters' permanent recruitment division, while net fee income growth also was 5.0% in Asia Pacific, though this was up 11% in constant currencies. Asia Pacific growth was driven by strong emerging market performances, including in Indonesia and Taiwan, as currency weakness offset still-strong performances in Japan, China and Hong Kong.
Europe net fee income rose 8.0%, and 17% in constant currencies, hit by a weak euro, as Robert Walters saw robust trading in the Netherlands, Belgium and Spain, while its net fee income for its international operations declined to 1.0%, with a broadly flat performance in key markets for the division, including the US, Middle East, South Africa and Brazil.
"The group produced a positive performance; delivering another quarter of double-digit net fee income growth in constant currency. Net fee income for the full year is up 12% in constant currency, with profit before taxation remaining in line with current market expectations," said Chief Executive Robert Walters.
"Looking ahead, notwithstanding ongoing global market uncertainty, our strong blend of income streams, our truly global footprint, our powerful brand and experienced senior management team ensures the group is well positioned for the future," Walters added.
The company will publish its annual results on March 10.
By Sam Unsted; [email protected]; @SamUAtAlliance
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