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Recruiter Robert Walters delivers growth across all regions in the second quarter

The Asia Pacific region accounted for most of the total gross profit in the second quarter

Robert Walters
Net fee income rose 15% in the first half

Recruitment firm Robert Walters PLC (LON:RWA) delivered a 15.8% increase in gross profit in the second quarter with growth across all its regions and business segments.

The company, which specialises in recruitment for professional sectors including finance, banking, law, technology, marketing and engineering, posted net fee income (gross profit) of £100mln for the quarter ended June 30, compared to £86.3mln in the year-ago period.

The Asia Pacific region accounted for most of the total with net fee income of £40.5mln, up 13% on the previous year.

In the UK, net fee income rose 12% to £27.4mln, driven by growth in Manchester, Milton Keynes and St. Albans. In London, the legal and IT recruitment segments delivered a strong rise in gross profit.

READ: Recruiter Robert Walters bucks the trend with growth in UK gross profit

The European division saw net fee income jump 23% to £24.6mln with Germany, Portugal, Spain and Switzerland producing the highest rates of growth.

Other international regions, including Brazil, Canada, South Africa, the Middle East and the US, achieved a 21% gain in net fee income to £7.5mln.

“We have continued to benefit from the diversity of both our international footprint and recruitment revenue streams, with net fee income for the first six months of the year up 18% in constant currency (15% actual),” said chief executive Robert Walters.

Group headcount rose to 3,991 in the second quarter from 3,894 last year. Robert Walters ended the period with net cash of £22.9mln, up from £18.4mln at the end of June 2017.

Quick facts: Robert Walters

Price: 486 GBX

LSE:RWA
Market: LSE
Market Cap: £369.21 m
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