There is “huge potential” in markets including Bangkok and Kuala Lumpur, where the company plans to focus on increasing productivity, Chief Executive Robert Walters said in a phone interview in London.
Asia Pacific accounted for almost half the company’s gross profit of 46.4 million pounds ($72 million) last year, the London-based company said today in a Regulatory News Service statement. Profit climbed 16 percent in the Asia Pacific region, 24 percent in Europe, 18 percent in the Americas and South Africa, and 3 percent in the U.K.
Robert Walters recently opened an office in Taipei, Taiwan, and is handling “business as usual” in Australia, the company’s biggest market, the executive said. The company has no plans to hire in the U.K. or France, because of “weak client confidence,” and may reduce staffing in other markets, he said.
“It’s going to be tough,” Walters added.
Robert Walters shares rose as much as 3.1 percent and traded up 1.1 percent at 164.75 pence at 10:32 a.m. in London.
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