Robert Walters FY profit slides

4th Mar 2010 09:15

Full year profit at recruitment firm Robert Walters plummeted as net fee income declined but added that results for January and February are ahead of the same period in 2009. Chief executive Robert Walters commented, "We have emerged from last year as a stronger business. We are selectively hiring, we are investing in those regions where growth prospects are most evident and we are actively assessing opportunities to grow our coverage in existing markets."Pre-tax profit fell to £1.3m for the year ended 31 December 2009 from £18.2m previously. Revenue dropped 11% to £300.4m.Net fee income for 2009 fell 25% to £104.4m."We are now well placed to capitalise further as the global economy recovers," Walters added.The final dividend has been maintained at 3.35p.