Robert Walters Op. Profit Up 28% in 2013

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

March 3 (Bloomberg) –- Robert Walters CEO & Founder Robert Walters discusses his company’s earnings with Anna Edwards and Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

Profit numbers coming in on estimate of 10 million pounds.

They are saying trading in the first two months has been encouraging.

Let's bring in robert walters.

Thank you for coming in to talk to us.

Tell us a bit how trading is going.

How encouraging is it being?

Well, i've been in this game for a long time.

You've seen a lot of cycles.

This one has been particularly different in as much as it's been a long time.

So whenever you are trying to predict an outcome from a long period, five years, of difficulty, you don't want to put all your cards on one table and say this is it, it is now happening.

However, we're comfortable.

The numbers are good.

But then the numbers twr, and that's the other point.

We're an international company.

We have 75% of our business outside of the u.k. significant exposure to interesting stories like australia, the slowdown.

We're in china.

We're in japan.

Which is a very interesting market once again.

They are slightly different stories.

When it comes to a blanket statement, are we coming out at a bad period of time, i think we are, confidence is returning generally, but there are different stories.

Let's start with the u.k., robert.

It is 34%, i think, in sales.

It's a big sizable proportion of your revenues.

What's the take-away here within the u.k.? much better confidence.

There is no doubt about it.

I sit and watch you guys having my cup of tea in the morning, and i hear lots of people talking about things, whether it is housing, whether it is currency, whatever it might be.

And there is a different feeling that the u.k. is improving.

And we're seeing it everywhere.

We're seeing it in the regions, not just london.

We're seeing it in our outsourcing business.

We're seeing different threats.

Too much confidence, running away with itself?

Surreal, is it?

Yes.

My money would be on it being for real.

Russia has been the story of late.

It hasn't been great for us and our friends, and i think it's an economy that has clearly been aligned very closely to what's been going on in emerging markets and to a lesser extent, india.

We all know that.

However, two -- i was there two months ago, and confidence was really strong.

Superb in sidney.

I decided i wanted to go somewhere that's really suffering, and i saw such optimism.

I think it is just behind us.

I know this is within the mining industry.

In perth.

That's interesting, because they are trying to, of course, move away from mining to balance the economy.

Well, they are.

You have a population of 21 million people.

People say retail is improving, which i think it is, and people say banking will return to sidney.

But there's a lot of reasons behind that.

What about china?

You touched on china.

There's so much news coming out of china.

Manufacturing data is declining.

There is a big congress taking place this week.

The currency fell on friday.

From your market perspective, what's the true picture in china?

The true in china.

Well, i was on this trade mission in december to china being sold china to me, basically, and i found it fascinating.

I don't propose the micro-economy perts in this, so we are new in china, so for us it is truly an emerging market.

The big problem we have in china in recruitment terms is limited loyalty of staff.

I think there is a lot of wage inflation.

It moves to around 20%. we had quite a good reputation to hang on to staff and developing people in parts of the world.

The biggest challenge we had was actually in china.

Is that your own employees?

Yeah.

You would think it would be quite good because a lot of people are moving jobs, and i suppose it is, but you need

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change