Business
Trading update for second quarter ended 30 June 13
Trading update for second quarter ended 30 June 13.
About this update from Robert Walters Plc
[{"type":"text","content":"\n \nRNS Number : 1630J Robert Walters PLC 12 July 2013 \n \n\nRobert Walters plc\n \n(the 'Company' or the 'Group')\n \nTrading update for the second quarter ended 30 June 2013\n \n \nFinancial and operational highlights\n \n\n\n\n\nGross profit (Net Fee Income)\n\n\nQ2 2013\n(£m)\n\n\nQ2 2012\n(£m)\n\n\n% change\n\n\n% change (constant currency*)\n\n\n\n\nAsia Pacific\n\n\n24.3\n\n\n23.9\n\n\n1%\n\n\n3%\n\n\n\n\nUK\n\n\n13.9\n\n\n12.1\n\n\n16%\n\n\nN/A\n\n\n\n\nEurope\n\n\n10.7\n\n\n10.0\n\n\n7%\n\n\n2%\n\n\n\n\nOther International\n\n\n2.2\n\n\n1.6\n\n\n35%\n\n\n42%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nGroup\n\n\n51.1\n\n\n47.6\n\n\n7%\n\n\n7%\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 \n§ Group net fee income up 7% on Q2 2012 and sequential quarter-on-quarter net fee income growth of 10% \n§ Net fee income increased across all regions\n§ UK net fee income up 16%, with increased activity coming through regional offices supported by discipline diversification \n§ Resource Solutions continues to perform well, winning 2 new contracts in the UK and 3 in Asia Pacific during the quarter\n§ Group headcount stands at 2,212 (31 December 2012: 2,233) \n§ Strong balance sheet with net cash of £6.9 million as at 30 June 2013 (30 June 2012: £4.5 million)\n \n \nRobert Walters, Chief Executive, commented:\n \n\"The Group continues to trade in line with expectations and delivered a solid performance in the second quarter. In the UK, we have seen improved activity particularly in our regional offices and have grown our market share, placing an increased number of candidates in sectors such as commerce, HR, legal and IT. While the first half results are encouraging, we remain cautious about the overall global macroeconomic outlook and continue to manage our cost base accordingly.\"\n \nThe Company will publish its half-yearly financial results for the six months ended 30 June 2013 on 1 August 2013.\n \n- Ends -\n \n \nFurther information\n \n\n\n\n\nRobert Walters plc\nRobert Walters, Chief Executive\nAlan Bannatyne, Chief Financial Officer\n \n\n\n+44 20 7379 3333\n\n\n\n\nPelham Bell Pottinger\nOlly Scott\nCharlie Goodwi...