Trading update for Q4 ended December 31st
Financial and operational highlights
- Net fee income growth, in constant currency, across all of the Group's regions for the fifth successive quarter
- UK continued to perform strongly increasing net fee income by 18% with our regional businesses and Resource Solutions again the standout performers
- Excellent performance in Japan with the internationalisation of business continuing to drive demand for bilingual professionals
- Australian market conditions remain challenging and the strength of Sterling relative to the Australian dollar has significantly impacted results
- Solid performance in Europe underpinned by increased activity across Benelux and a robust performance in France
- Another good performance from Other International with our US and South Africa businesses in particular delivering strong growth
- Group headcount stands at 2,307 (31 December 2012: 2,233)
- Strong balance sheet with net cash of £18.2m as at 31 December 2013 (31 December 2012: £12.0m)
Robert Walters, Chief Executive, commented:
"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.
With our continued focus on cost control and productivity, we are confident that our business is well positioned to benefit from a sustained recovery."
The Group will publish its final results for the year ended 31 December 2013 on 3 March 2014.
For further information:
Robert Walters plc: +44 20 7379 3333
Robert Walters, Chief Executive
Alan Bannatyne, Chief Financial Officer
Newgate Communications: +44 20 7680 6550