Business
Half Year Results
Half Year Results.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \nRNS Number : 4507F Robert Walters PLC 28 July 2016 \n\n \n \n \n \n28 July 2016\n \nROBERT WALTERS PLC\n(the \"Company\", or the \"Group\")\n \nHalf-yearly financial results for the six months ended 30 June 2016\n \nNET FEE INCOME UP 9%\n \nRobert Walters plc (LSE: RWA), the leading international recruitment consultancy, today announces its half-yearly financial results for the six months ended 30 June 2016.\n \nFinancial and Operational Highlights\n \n\n\n\n\n \n\n\nH1 2016\n\n\nH1 2015\n\n\n% change\n\n\n% change (constant currency*) \n\n\n\n\nRevenue\n\n\n£451.4m\n\n\n£377.6m\n\n\n20%\n\n\n17%\n\n\n\n\nGross profit (net fee income)\n\n\n£128.1m\n\n\n£113.9m\n\n\n12%\n\n\n9%\n\n\n\n\nOperating profit\n\n\n£10.1m\n\n\n£9.0m\n\n\n12%\n\n\n(2%)\n\n\n\n\nProfit before taxation\n\n\n£11.2m\n\n\n£8.7m\n\n\n29%\n\n\n15%\n\n\n\n\nBasic earnings per share\n\n\n10.6p\n\n\n8.0p\n\n\n33%\n\n\nn/a\n\n\n\n\n* Constant currency is calculated by applying prior period exchange rates to local currency results for the current and prior periods.\n \n§ Growth strongest in our Asia Pacific and Continental European regions which together now account for 64% of the Group's net fee income. \n§ Asia Pacific net fee income up 15% (10%*) to £54.0m (£51.5m*) (2015: £47.0m) and operating profit up 35% (16%*) to £6.4m (£5.5m*) (2015: £4.7m).\n§ Japan, our largest business in the region, Taiwan, Indonesia and Thailand all delivered record performances.\n§ Australia produced the strongest growth rates we have seen for four years.\n§ Solid performances from businesses in Hong Kong, mainland China and Singapore. \n§ First office opened in the Philippines.\n§ UK net fee income up 4% to £40.2m (2015: £38.7m) producing an operating profit of £1.8m (2015: £2.8m).\n§ Weaker performance against an uncertain political and economic backdrop.\n§ Significant investment in Resource Solutions to implement two major client wins.\n§ Europe net fee income up 27% (19%*) to £28.2m (£26.5m*) (2015: £22.3m) and operating profit more than doubled to £2.1m (£1.8m*) (2015: £1.0m).\n§ Excellent performance in France and Benelux across both permanent and contract recruitment. \n§ Spain and Switzerland continue to go from strength to strength.\n§ Group headcount of 2,902 (30 June 2015: 2,728).\n§ Interim divid...