StockMarketWire.com - Recruitment group Robert Walters profits swelled to a record on 'standout' performances in Asia Pacific and Europe.

For year ended 31 December 2018, profit before taxation rose by 21% to a record £49.1m and revenue was up 6% to £1.23bn.

Net fee income increased by 14% to £392.0m for the year, as Asia Pacific and European regions delivered amid 'standout performances,' the company said.

Net fee income in Europe increased by 25%, Asia pacific net fee income rose 13% to £154.1m.

Both permanent and contract recruitment grew strongly during the year, with the group's ratio of permanent and contract recruitment net fee income currently 69% permanent to 31% contract versus 68%:32% last year.

The company proposed a 15% increase in the final dividend to 10.7p per share which combined with the interim dividend of 4.0p per share would result in a 22% increase in the total dividend to 14.7p per share, from 12.05p last year.

'It's inevitable that the current uncertainty surrounding Brexit will continue to affect client and candidate confidence in the UK,' said Robert Walters, Chief Executive.

'We are a truly global business with 73% of net fee income derived from outside of the UK, a global footprint covering 30 countries and well-established operations in all those locations that might benefit from any potential movement of business and staff from the UK. 2019 has started well, in line with the Board's expectations, and the Group is well positioned to continue to take advantage of market opportunities as they arise.'

At 9:29am: [LON:RWA] Robert Walters PLC share price was +61p at 587p



Story provided by StockMarketWire.com