Bloomberg News

Robert Walters CEO ‘Optimistic’ on Emerging Markets and Asia

July 05, 2012

Robert Walters Plc Chief Executive Officer Robert Walters said the recruitment company is looking for growth opportunities in Brazil and the Asia-Pacific region, which he described as a “hot market.”

The London-based firm, which specializes in professional recruitment worldwide, reported that net income fees fell by 3 percent to 47.6 million pounds ($74.1 million) in the second quarter from 49.2 million pounds for the same period in 2011. The company’s share price declined 5.86 percent to 196.75 pence at 11.55 a.m. in London trading.

Walters said in an interview that the firm delivered a stable performance against deteriorating worldwide market conditions, with the Americas and South Africa the only areas that saw growth in the second quarter, as net income there rose 4 percent to 1.6 million pounds from 1.5 million pounds in the same period a year ago.

The company opened three new offices in Milton Keynes, north of London, Sydney and Rio de Janeiro, and is looking to open more in 2013.

“We’re sitting on a goldmine - the infrastructure, IT, and marketing is in place. We have cash, no debt and a diversified portfolio. I sleep well at night,” Walters said.

The company’s net cash fell to 4.5 million pounds as of June. 30, from 10.7 million pounds in the same period in 2011 due to “growth of business contracts”, Walters said.

China's Killer Profits
blog comments powered by Disqus