Business
Final Results
Final Results.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \nRNS Number : 5164R Robert Walters PLC 01 March 2019 \n\n \n1 March 2019\n \nROBERT WALTERS PLC\n(the \"Company\", or the \"Group\")\n \nResults for the year ended 31 December 2018\n \nRECORD RESULTS; PROFIT AHEAD OF EXPECTATIONS\n \nRobert Walters plc (LSE: RWA), the leading international recruitment group, today announces its results for the year ended 31 December 2018.\n \nFinancial and Operational Highlights\n \n\n\n\n\n \n\n\n2018\n\n\n2017\n\n\n% change\n\n\n% change (constant currency*) \n\n\n\n\nRevenue\n\n\n£1.23bn\n\n\n£1.17bn\n\n\n6%\n\n\n7%\n\n\n\n\nGross profit (net fee income)\n\n\n£392.0m\n\n\n£345.2m\n\n\n14%\n\n\n15%\n\n\n\n\nOperating profit\n\n\n£49.7m\n\n\n£41.9m\n\n\n19%\n\n\n21%\n\n\n\n\nProfit before taxation\n\n\n£49.1m\n\n\n£40.6m\n\n\n21%\n\n\n23%\n\n\n\n\nBasic earnings per share\n\n\n50.4p\n\n\n42.9p\n\n\n17%\n\n\nn/a\n\n\n\n\nFinal dividend per share\n\n\n10.7p\n\n\n9.3p\n\n\n15%\n\n\nn/a\n\n\n\n\n* Constant currency is calculated by applying prior year exchange rates to local currency results for the current and prior years.\n \n§ Record results with operating profit up by 19% (21%*) to £49.7m (2017: £41.9m) and profit before taxation up by 21% (23%*) to £49.1m (2017: £40.6m). \n§ 73% (2017: 71%) of the Group's net fee income derived from outside of the UK. \n§ Opened in two new countries, Chile and the Czech Republic and added four new offices in existing markets - Geneva, Hamburg, Leeds and Los Angeles. Group now has a footprint covering 30 countries.\n§ Asia Pacific net fee income up 13% (16%*) to £154.1m (£159.1m*) (2017: £136.6m) and operating profit up 20% (26%*) to £21.2m (£22.3m*) (2017: £17.7m).\n§ Demand for bilingual professionals continued to be strong across Asia.\n§ Another year of record performance in Japan. Hong Kong, Taiwan and Mainland China performed well and there was accelerated growth in our emerging South East Asia markets, with Indonesia, Thailand and the Philippines all increasing operating profit in excess of 50%*.\n§ In Australia, growth was strongest across Melbourne, Perth and Adelaide and we continued to benefit from our increased focus on the SME market and higher growth disciplines such as fintech, technology and digital.\n§ UK net fee income up 7% to £107.5m (2017: £100.9m) delivering a 5% increase in operating ...