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Robert Walters expects coronavirus hit to profits

The recruiter has already been struggling across various markets due to Brexit, political unrest in France and Hong Kong, the US-China trade war

Robert Walters -

Robert Walters PLC (LON:RWA) tanked as it predicted the coronavirus will hit this year’s profits and add “a further layer of uncertainty” for the struggling recruiter.

Analysts at Liberum expect a 15% fall to £42-44mln.

The group has been battling in various markets, especially the UK where candidate and client confidence was “hit hard” by Brexit unpredictability.

Results were also challenged by political unrest in Hong Kong and France as well as the US-China trade war.

The company, present in 31 countries, hailed a "resilient" performance in 2019 with revenue dipping 1% to £1.2bn while profit before tax fell 3% to £47mln.

The dividend was raised 5% to 15.5p per share.

Shares dropped 11% to 469.34p on Tuesday at the opening bell.

--Adds analyst's comment--

Quick facts: Robert Walters

Price: 402.0001 GBX

LSE:RWA
Market: LSE
Market Cap: £3.13 m
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