logo-loader
viewRobert Walters

Robert Walters delivers 'solid' first quarter despite and political uncertainty in the UK and France

“Current trading is in line with market expectations for the full year," said chief executive Robert Walters

Robert Walters
A strong performance in London job placements boosted the UK division

Specialist professional recruiter Robert Walters PLC (LON:RWA) reported first-quarter growth across all its job markets despite economic and political uncertainty in the UK and France.

Net fee income – a measure of gross profit – rose 11% to £98.6mln in the quarter ended March 31 from £88.5mln a year ago.

The UK division grew net fee income by 10% to £27.7mln, supported by a strong performance in London despite concerns about Brexit weighing on business confidence.

READ: Robert Walters surges as full-year profit tops expectations

The group’s largest region, Asia Pacific, delivered a 12% rise in net fee income to £36.4mln, driven by growth in Japan, Mainland China, the Philippines, Thailand and Vietnam.

Net fee income in Europe gained 8% to £26.2mln with Germany and Spain achieving growth over 25%, offsetting a weaker performance in France where strikes and national protests have been held over government policies.

Other international markets, including the Americas, Middle East and South Africa, saw net fee income increased 22% to £8.3mln.

Group headcount rose by 4% to 4,227.

Net cash stood at £59.5mln at the end of the March, up from £34mln the same time a year earlier.

“All the group's regions delivered growth in net fee income despite economic and political uncertainty in a number of markets, particularly the UK and France,” said chief executive Robert Walters.  

“Current trading is in line with market expectations for the full year."

Quick facts: Robert Walters

Price: 500 GBX

LSE:RWA
Market: LSE
Market Cap: £379.85 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Polar Capital Global Healthcare's Daniel Mahony talks key sector developments

Polar Capital Global Healthcare's (LON:PCGH) Daniel Mahony talks through the key developments he's seeing in the healthcare sector at the moment in addition to the impact of political issues stemming from the US. He also discusses how IT is beginning to disrupt the healthcare landscape.

12 hours, 28 minutes ago

RNS

Block listing Interim Review

1 week, 5 days ago

Director/PDMR Shareholding

2 weeks, 1 day ago

Trading Statement

2 weeks, 1 day ago

Holding(s) in Company

3 weeks ago

Total Voting Rights

3 weeks, 2 days ago

2 min read