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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Robert Walters plc    RWA   GB0008475088

ROBERT WALTERS PLC

(RWA)
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Robert Walters revenue tumbles as lockdowns put hiring on ice

07/30/2020 | 03:15am EST

British recruiting firm Robert Walters' reported a 22% drop in half-year revenue along with a small profit on Thursday, while adding that current trading was in line with market expectations for the full year as it battles a coronavirus-driven collapse in hiring.

Recruiters around the globe were hammered by hiring freezes at the start of the health crisis, forcing peers PageGroup, SThree and Hays to report huge drops in net fees earlier this month.

The firm said it had cut group headcount by almost 600 staff, or around 14%, in the first half.

Robert Walters, which had already scrapped dividends and laid out cost cuts through the year, also reduced the number of consultants it employs in response to the downturn.

"Current trading is in line with market expectations for the full year, albeit visibility remains limited", Chief Executive Robert Walters said in a statement.

The company said revenue fell to 496.4 million pounds for the six months ended June 30 from 634.5 million pounds a year earlier, while pre-tax profit fell nearly 80%.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Bernard Orr)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
HAYS PLC 0.00% 141.9 Delayed Quote.-0.77%
PAGEGROUP 0.54% 443.8 Delayed Quote.-1.34%
ROBERT WALTERS PLC 0.37% 540 Delayed Quote.13.74%
STHREE PLC -2.80% 330 Delayed Quote.13.93%
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More news
Financials
Sales 2020 1 040 M 1 428 M 1 428 M
Net income 2020 6,29 M 8,63 M 8,63 M
Net cash 2020 93,8 M 129 M 129 M
P/E ratio 2020 73,5x
Yield 2020 2,79%
Capitalization 390 M 536 M 536 M
EV / Sales 2020 0,28x
EV / Sales 2021 0,27x
Nbr of Employees 3 514
Free-Float 80,8%
Chart ROBERT WALTERS PLC
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Robert Walters plc Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 6
Average target price 570,00 GBX
Last Close Price 5,40 GBX
Spread / Highest target 12 863%
Spread / Average Target 10 456%
Spread / Lowest Target 8 881%
EPS Revisions
Managers and Directors
NameTitle
Robert Charles Walters Chief Executive Officer & Executive Director
Rohinton Mobed Chairman
Alan Robert Bannatyne CFO, Secretary & Executive Director
Brian McArthur-Muscroft Senior Independent Non-Executive Director
Tanith Dodge Non-Executive Director
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