Commenting on the Group's performance in the second quarter, Alistair Cox,
Chief Executive, said:
"Whilst several markets around the world were fragile, the fact that we've
built such a well-diversified and balanced business enabled us to deliver a
solid result in the quarter. 12 countries around the Group delivered net fee
growth of 10%(1) or more including Germany, which is operating at record
levels, and key markets such as Brazil, Canada and Russia. Other markets
remained tough, notably the UK, Southern Europe and Banking-related
specialisms, and we saw a step-down in activity levels in our Australian
Resources & Mining business.
The start to the New Year is always a key time and we are closely monitoring
activity levels in all of our markets. Overall, we expect conditions to remain
fragile but we continue to see opportunities for growth in several key parts of
our business. We will invest accordingly to fully capitalise on these growth
opportunities, while also controlling costs tightly and improving productivity
across the Group in order to maximise profitability."
