Robert Walters Plc - Half-Yearly Financial Results for Six Months Ended 30 June 2011
United Kingdom
CONTINUED INTERNATIONAL GROWTH
Financial Highlights
- Basic earnings per share of 6.5p (2010: 4.8p).
- Interim dividend increased by 5% to 1.47p per share (2010: 1.40p).
- Net cash of £10.7m as at 30 June 2011 (30 June 2010: £12.9m).
Operational Highlights
- 74% of Group's net fee income now comes from outside of the UK (2010: 70%).
- Asia Pacific increased net fee income by 29% (24%*) to £44.5m (2010: £34.4m).
- Three new offices opened:
- Chatswood (sixth office in Australia)
- Nanjing (fourth office in mainland China).
- Ho Chi Minh City (first office in Vietnam).
- Three new offices opened:
- UK net fee income grew by 6% to £22.9m (2010: £21.6m).
- Europe net fee income up by 34% (34%*) to £19.4m (2010: £14.4m).
- Strong growth in France, the region's largest business.
- Excellent performance from our newly established business in Germany.
- Healthy mix of permanent (71%) and contract (29%) recruitment net fee income (2010: 70%:30%).
- Group headcount of 1,932 (2010: 1,539).
- New offices planned for Indonesia, Taiwan and Germany in the second half of the year.
Robert Walters, Chief Executive, commented:
"The Group performed well during the first half of the year with growth largely driven by our international businesses which now represent 74% of the Group's net fee income.
"We are committed to expanding in those markets offering the best prospects for growth and our future investment plans reflect this."
* 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
James Henderson +44 (0)20 7861 3160
jhenderson@pelhambellpottinger.co.uk
Archie Berens +44 (0)20 7861 3112
aberens@pelhambellpottinger.co.uk
The full report can be found on our Investor Website.