Business
Trading Update for Q4 2013
Trading Update for Q4 2013.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \nRNS Number : 1294X Robert Walters PLC 08 January 2014 \n \n\n8 January 2014\n \nROBERT WALTERS PLC\n \n(the 'Company' or the 'Group')\n \nTrading update for the fourth quarter ended 31 December 2013\n \n Financial and operational highlights\n \n\n\n\n\nGross profit (Net fee income)\n\n\nQ4 2013\n \n\n\nQ4 2012\n \n\n\n% change\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\nGroup\n\n\n£49.7m\n\n\n£47.7m\n\n\n4%\n\n\n9%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nAsia Pacific\n\n\n£21.8m\n\n\n£23.5m\n\n\n(7%)\n\n\n3%\n\n\n\n\nUK\n\n\n£15.1m\n\n\n£12.8m\n\n\n18%\n\n\nN/A\n\n\n\n\nEurope\n\n\n£10.8m\n\n\n£10.1m\n\n\n7%\n\n\n3%\n\n\n\n\nOther International\n\n\n£2.0m\n\n\n£1.3m\n\n\n56%\n\n\n77%\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§ Net fee income growth, in constant currency, across all of the Group's regions for the fifth successive quarter.\n§ UK continued to perform strongly increasing net fee income by 18% with our regional businesses and Resource Solutions again the standout performers.\n§ Excellent performance in Japan with the internationalisation of business continuing to drive demand for bilingual professionals.\n§ Australian market conditions remain challenging and the strength of Sterling relative to the Australian dollar has significantly impacted results. \n§ Solid performance in Europe underpinned by increased activity across Benelux and a robust performance in France.\n§ Another good performance from Other International with our US and South Africa businesses in particular delivering strong growth.\n§ Group headcount stands at 2,307 (31 December 2012: 2,233). \n§ Strong balance sheet with net cash of £18.2m as at 31 December 2013 (31 December 2012: £12.0m).\n \nRobert Walters, Chief Executive, commented:\n \n\"The Group continued to trade in line with expectations with net fee income for the year of £199.2m, an increase of 8% in constant currency despite the mixed nature of global market conditions which have prevailed this year. \n \n\"With our continued focus on cost control and productivity, we are confident that our business is well positioned to benefit from a sustained recovery.\"\n \nThe Group ...