7th Jul 2015 07:13
LONDON (Alliance News) - Shares in recruitment consultancy Robert Walters PLC were trading higher on Tuesday morning after the company said its net fee income in the second quarter increased across the board year-on-year, despite taking a currency hit.
The firm said its net fee income for the second quarter to the end of June was GBP60 million, up 11% from the GBP53.9 million reported a year earlier and 15% higher in constant currencies. Net fee income rose across its geographical operations, with a 19% rise in the UK and a 3% rise in Europe, though the latter was 16% higher in constant currencies as the weak euro dragged.
"We are pleased to report another strong set of quarterly results with net fee income increasing 15% in constant currency. Particularly encouraging is the exceptional growth we are seeing from our newer businesses in emerging markets in Asia," said Chief Executive Robert Walters.
"The group's continued strong trading performance, underpinned by our ongoing focus on consultant productivity enables us to continue to deliver operational gearing. The board is confident that despite FX headwinds, profit for the year will be ahead of current market consensus," Walters added.
The company will publish its interim results for the six months to the end of June on July 30.
Robert Walters shares were up 3.9% to 429.025 pence in early trade, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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