Business
Amended - Trading Update for Q1 ended 31 Mar 2021
Amended - Trading Update for Q1 ended 31 Mar 2021.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4920V\n Robert Walters PLC\n 14 April 2021\n \n \n \n \n \n \n \n The below is a correction to the Trading Update announcement released on 14 April 2021 (RNS Number: 3605V). The below announcement corrects the disclosure in respect of the growth split of certain business components in France. No further amendments have been made to the Trading Update\n \n \n \n \n \n 14 April 2021 \n \n \n \n \n \n ROBERT WALTERS PLC\n \n \n \n \n \n (the 'Company' or the 'Group')\n \n \n \n \n \n Trading update for the first quarter ended 31 March 2021\n \n \n \n \n \n PROFIT AHEAD OF EXPECTATIONS\n \n \n \n \n \n Financial and operational highlights\n \n \n \n \n \n \n \n \n \n Gross profit (Net fee income)\n \n \n \n \n Q1 2021\n \n \n \n \n \n \n \n Q1 2020\n \n \n \n \n \n \n \n % change\n \n \n \n \n % change (constant currency*)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Group\n \n \n \n \n £77.3m\n \n \n \n \n £87.4m\n \n \n \n \n (12%)\n \n \n \n \n (11%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Asia Pacific \n \n \n \n \n £32.8m\n \n \n \n \n £34.5m\n \n \n \n \n (5%)\n \n \n \n \n (3%)\n \n \n \n \n \n \n Europe\n \n \n \n \n £21.8m\n \n \n \n \n £25.4m\n \n \n \n \n (14%)\n \n \n \n \n (15%)\n \n \n \n \n \n \n UK\n \n \n \n \n £17.3m\n \n \n \n \n £19.7m\n \n \n \n \n (12%)\n \n \n \n \n (12%)\n \n \n \n \n \n \n Other International\n \n \n \n \n £5.4m\n \n \n \n \n £7.8m\n \n \n \n \n (31%)\n \n \n \n \n (25%)\n \n \n \n \n \n \n * Constant currency is calculated by applying prior period average exchange rates to local currency results for the current and prior years.\n \n \n \n \n \n § \n Positive trading momentum continued through the first quarter underpinned by further signs of improving market conditions across the Group's major regions. \n \n \n § \n Group net fee income for the first quarter was down 11% (12% actual) year-on-year representing a significant improvement on the 26% (24% actual), 30% (31% actual) and 34% (33% actual) declines of the preceding three quarters.\n \n \n § \n Activity levels across permanent, contract, interim and recruitment process outsourcing all trended positively through the qua...