6th Apr 2011 07:00
6 April 2011
ROBERT WALTERS PLC
Interim management statement for the first quarter ended 31 March 2011
FINANCIAL HIGHLIGHTS
Gross Profit (Net Fee Income) | Q1 2011 | Q1 2010 | % change | % change (constant currency*) |
Asia Pacific | £19.3m | £14.9m | +29% | +23% |
UK | £11.1m | £10.1m | +10% | +10% |
Europe | £8.9m | £6.7m | +32% | +37% |
The Americas and South Africa | £0.9m | £1.0m | -12% | -12% |
Group | £40.1m | £32.6m | +23% | +21% |
·; Net cash position remains strong, in excess of £20m as at 31 March 2011 (£15.6m as at 31 March 2010).
·; Group headcount of 1,838 (31 December 2010: 1,735).
·; New office opened in Chatswood, Sydney. The Group now has 43 offices in 20 countries.
Robert Walters, Chief Executive, commented:
"Group net fee income is up 23% year on year in the first quarter, with Europe and Asia Pacific delivering a solid performance. Following the recent events in Japan, I am pleased to say that our Japanese business is now operational, although it may be some time before market conditions fully recover.
"As stated in our recent year-end results, the outlook for the year remains broadly positive. We continue to pursue our strategy of international expansion and diversification, having chosen Brazil, China and Germany as new markets providing strong opportunities for growth."
* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.
ENQUIRIES:
Robert Walters plc | +44 (0) 20 7379 3333 |
Robert Walters, Chief Executive | |
Alan Bannatyne, Group Finance Director | |
Pelham Bell Pottinger |
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James Henderson | +44 (0) 20 7861 3160 |
Archie Berens | +44 (0) 20 7861 3112 |
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