Business
Q3 Trading Update: PROFIT AHEAD OF EXPECTATIONS
Q3 Trading Update: PROFIT AHEAD OF EXPECTATIONS.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2763O\n Robert Walters PLC\n 07 October 2021\n \n \n \n \n \n \n \n 7 October 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 third quarter ended 30 September 2021\n \n \n \n \n \n STRONG PERFORMANCE.\n \n \n PROFIT EXPECTED TO BE AHEAD OF EXPECTATIONS\n \n \n \n \n \n Financial and operational highlights\n \n \n \n \n \n \n \n \n Gross profit (Net fee income)\n \n \n \n \n Q3 2021\n \n \n \n \n \n \n \n Q3 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 \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 £91.8m\n \n \n \n \n £72.8m\n \n \n \n \n 26%\n \n \n \n \n 32%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \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 £44.4m\n \n \n \n \n £30.5m\n \n \n \n \n 46%\n \n \n \n \n 54%\n \n \n \n \n \n \n Europe\n \n \n \n \n £22.7m\n \n \n \n \n £19.6m\n \n \n \n \n 15%\n \n \n \n \n 22%\n \n \n \n \n \n \n UK\n \n \n \n \n £18.7m\n \n \n \n \n £16.0m\n \n \n \n \n 17%\n \n \n \n \n 17%\n \n \n \n \n \n \n Other International\n \n \n \n \n £6.0m\n \n \n \n \n £6.7m\n \n \n \n \n (10%)\n \n \n \n \n (6%)\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 Trading continued to be strong across all of the Group's major regions during the third quarter. Profit for the full year is now expected to be comfortably ahead of the guidance signalled in the Group's half-year results statement.\n \n \n § \n Group net fee income for the third quarter was up 32%* (26% actual) with growth strongest across the Asia Pacific region which now accounts for 48% (2020: 42%) of Group net fee income. \n \n \n § \n Asia Pacific net fee income up 54%* (46% actual) to £44.4m (2020: £30.5m) despite the majority of our markets in the region being under full or significant lockdowns.\n \n \n o \n Japan and Australia, the two largest and most profitable businesses in the region, both delivered excellent performances growing...