Asian growth lifts Robert Walters

7th Jan 2011 07:13

Strong growth in the Far East, and China in particular, helped white collar recruiter Robert Walters lift fourth quarter gross profits by 42%, making an increase of 49% for past year overall."Performance across the group has been strong, resulting in significantly increased net fee income year on year. Group net fee income for the year ended 31 December was up 49% (43%) to £155.3m (2009: £104.4m). Markets continued to be very active and China, in particular, has delivered excellent growth," Walters said.Fourth quarter net fee income, or gross profit, rose to £40.6m from £28.6m this time last year, with Asia Pacific up 54% at £19.7m, the UK up 37% at £11.6m and Europe up 24% at £8.4m. It follows a very strong third quarter where gross profit increased by 65% to £42.5m, against £25.8m. "We enter 2011 with confidence. We continue to invest in the areas where we see the most potential, seeking to benefit from our long term strategy of geographical expansion. We expect levels of activity across the Group to remain strong," Walters said.