26th Feb 2015 10:18
LONDON (Alliance News) - Recruitment company Robert Walters PLC on Thursday reported a big rise in pretax profit on the back of higher revenue for 2014 as the group recorded fee income growth across the business.
Pretax profit rose to GBP18.2 million in the year to December 31, up 80% from the GBP10.1 million reported a year earlier.
Revenue rose to GBP679.6 million from GBP597.7 million as the group said its net fee income grew across its operations. Net fee income increased 24% in the UK, boosted by growth in London and the regions and improving permanent recruitment in the capital's financial services industry.
Asia Pacific net fee income rose 8% at constant currencies, the company said, with good growth across the business and a return to growth in its Australian arm. Europe net fee income rose 10% in constant currencies, while other international fee income increased 35% in constant currencies, boosted by a strong performance in the Middle East and a record result in the US.
The group hiked its final dividend 13% to 4.35 pence per share, with a total dividend for the year of 6 pence, against 5.4 pence a year ago.
"We delivered an excellent performance in 2014, increasing profit before taxation by 80%. This is testament to the strength, depth and diversity that the group now has in terms of both geography and discipline," said Chief Executive Robert Walters.
"Early trading in 2015 has been in line with expectations. Whilst we are mindful of continued Eurozone uncertainty, we believe we are very well positioned to capitalise on both current and future growth opportunities," Walters added.
Robert Walters shares were down 1.2% to 340.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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