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