Interim Management Statement, Q3 2009
UK, 09-Oct-2009 Interim Management StatementQuarter ending 30 September 2009
The Board of Robert Walters announces that net fee income for the third quarter was 29% below that achieved in the equivalent period of 2008.
Whilst trading conditions remain challenging, there have been signs of improvement within certain disciplines, such as banking, and in certain geographies, particularly Asia. The Group's balance sheet remains strong and the Board is comfortable with our current staffing levels.
Commenting on the third quarter, Robert Walters, Chief Executive said:
"Although the rate of decline in recruitment activity appears to be levelling out in some areas, the uncertain state of the global economy as a whole means that forward visibility remains limited. We are committed to our strategy of growing market share and have begun making selective hires to increase capacity where appropriate."
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