Robert Walters full-year profit rises on Asia Pacific growth
Feb 26 (Reuters) - Recruitment company Robert Walters Plc reported a 3 percent rise in its full-year gross profit, driven by revenue growth in Asia-Pacific and its move away from hiring for the struggling banking sector.
Robert Walters said its net fee income, or gross profit, rose to 188.4 million pounds in the year ended Dec. 31 from 183.4 million pounds a year earlier.
Revenue rose 7.5 percent to 567.8 million pounds. In Asia-Pacific it jumped 14 percent to 280.6 million pounds, making up 49 percent of revenue, up from 47 percent in the previous year.
The company's overall headcount rose 9 percent but it cut its financial services team by 18 percent, reflecting a sharp contraction in hiring in financial markets.
In Britain, net fee income increased 5.7 percent, as the country's labour market has proven surprisingly resilient over the past year. It inched up less than a percent in the Asia-Pacific region.
Shares of the company closed at 200.75 pence on the London Stock Exchange on Monday.
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