Robert Walters thankful for overseas operations as it posts record revenue figures but warns on uncertain environment

 
Oliver Gill
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Robert Walters concentrates on outsourcing in the UK and recruitment overseas (Source: Getty)

Headhunter and outsourcing firm Robert Walters today posted record revenues but warned of an "unpredictable geopolitical environment".

Shares rose over one per cent in early trading, with the figures boosted by currency gains from its overseas operations.

The figures

Revenues grew to £999m, up 23 per cent from £813m in 2015 with gross profit up 19 per cent at £278m.

Operating profit grew from £23.1m to £26.2m, with profit before tax up 26 per cent to £28.1m.

Earnings per share were 27.7p and the group's final dividend was hiked by 21 per cent to 6.2p per share.

Read more: Boring boring Brexit: Recruitment boss says firms are ready to grow

Why it's interesting

Not unlike its London-listed competitor Hays, a large proportion (69 per cent) of Robert Walters' sales are outside of the UK.

Diversification worked in Robert Walters' favour, as UK operating profit rose just four per cent to £6.4m.

Read more: UK jobs rebuffed Brexit woes in July

Meanwhile Europe (with operating profit up 27 per cent), Asia Pacific (up 13 per cent) and other international regions (up 16 per cent) were boosted by considerable currency tailwinds.

What the company said

Robert Walters chief executive Robert Walters said: "I am very pleased to report a record set of results.

"We grew net fee income across all of the group's regions and opened offices in four new countries; Canada, India, the Philippines and Portugal.

Looking ahead, we remain mindful of the unpredictable geopolitical environment, however, the group's global footprint coupled with the range of recruitment services we provide positions us well to maximise opportunities for growth as they arise.

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