'Regional Hub' Status Helps Drive Executive Search Business
Singapore (ANTARA News/PRNewswire-AsiaNet) - The Singapore office of the world's premier
search firm, Heidrick & Struggles, today reported a 72.1 per cent increase in revenue to US$10.85 million for 2007, driven by escalating demand for senior executives.
Partner-in-charge Alicia Yi says that with its global network, Heidrick & Struggles works with multinationals and local companies to secure international talent.
"Singapore continues to lead in attracting corporations and executives with regional mandates," Yi says. "We are seeing significant growth in consumer, life sciences, education and hospitality sectors. The status of Singapore as a regional hub for global companies, and an attractive tax environment helps to attract international talent."
Yi says that a new principal, Steve Stine, is working in emerging industries such as "clean technology," health care, supply chain and gaming.
Heidrick & Struggles, which has offices in more than 60 cities around the world, increased its full year net revenue in the Asia Pacific region by 58.8 percent to US$78.6 million, or approximately 51 per cent on a constant currency basis.
Operating income of US$15.9 million increased 20.1 per cent over 2006 and the operating margin was 20.3 per cent, compared with 26.8 per cent in 2006.
Globally, for the year ended December 31, 2007, Heidrick & Struggles reported consolidated net revenue of US$619.7 million, an increase of 29.5 percent from US$478.5 million in 2006.
In 2008, the company expects worldwide consolidated net revenue of between US$650 and US$670 million, representing growth of between 5 per cent and 8 percent over 2007 net
revenue. The company is targeting a 2008 full-year operating margin of 13 per cent.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness.
For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide.
Today, Heidrick & Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit http://www.heidrick.com .
Safe Harbor Statement
This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions.
Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict.
Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search consultants; the condition of the economies in the United States, Europe, or elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements.
We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Thomas Liddle Communications Consultant Tel: +61-2-8205-2376 Email: tliddle@heidrick.com
Eric Sodorff Director, Corporate Communications Tel: +1-312-496-1613 Email: esodorff@heidrick.com
SOURCE Heidrick & Struggles International, Inc.
Singapore (ANTARA News/PRNewswire-AsiaNet) - The Singapore office of the world's premier
search firm, Heidrick & Struggles, today reported a 72.1 per cent increase in revenue to US$10.85 million for 2007, driven by escalating demand for senior executives.Partner-in-charge Alicia Yi says that with its global network, Heidrick & Struggles works with multinationals and local companies to secure international talent.
"Singapore continues to lead in attracting corporations and executives with regional mandates," Yi says. "We are seeing significant growth in consumer, life sciences, education and hospitality sectors. The status of Singapore as a regional hub for global companies, and an attractive tax environment helps to attract international talent."
Yi says that a new principal, Steve Stine, is working in emerging industries such as "clean technology," health care, supply chain and gaming.
Heidrick & Struggles, which has offices in more than 60 cities around the world, increased its full year net revenue in the Asia Pacific region by 58.8 percent to US$78.6 million, or approximately 51 per cent on a constant currency basis.
Operating income of US$15.9 million increased 20.1 per cent over 2006 and the operating margin was 20.3 per cent, compared with 26.8 per cent in 2006.
Globally, for the year ended December 31, 2007, Heidrick & Struggles reported consolidated net revenue of US$619.7 million, an increase of 29.5 percent from US$478.5 million in 2006.
In 2008, the company expects worldwide consolidated net revenue of between US$650 and US$670 million, representing growth of between 5 per cent and 8 percent over 2007 net
revenue. The company is targeting a 2008 full-year operating margin of 13 per cent.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the world's premier provider of senior-level executive search and leadership consulting services, including talent management, board building, executive on-boarding and M&A effectiveness.
For more than 50 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide.
Today, Heidrick & Struggles leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit http://www.heidrick.com .
Safe Harbor Statement
This press release contains forward-looking statements. The forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management's beliefs and assumptions.
Forward-looking statements may be identified by the use of words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "projects," "forecasts," and similar expressions. Forward-looking statements are not guarantees of future performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict.
Actual outcomes and results may differ materially from what is expressed, forecasted or implied in the forward-looking statements. Factors that may affect the outcome of the forward-looking statements include, among other things: our ability to attract and retain qualified executive search consultants; the condition of the economies in the United States, Europe, or elsewhere; social or political instability in markets where we operate; the impact of foreign currency exchange rate fluctuations; price competition; the ability to forecast, on a quarterly basis, variable compensation accruals that ultimately are determined based on the achievement of annual results; our ability to realize our tax loss carryforwards; the timing of a partial release or full reversal of deferred tax asset valuation allowance; the mix of profit and loss by country; an impairment of our goodwill and other intangible assets; and delays in the development and/or implementation of new technology and systems. Our reports filed with the U.S. Securities and Exchange Commission also include information on factors that may affect the outcome of forward-looking statements.
We undertake no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: Thomas Liddle Communications Consultant Tel: +61-2-8205-2376 Email: tliddle@heidrick.com
Eric Sodorff Director, Corporate Communications Tel: +1-312-496-1613 Email: esodorff@heidrick.com
SOURCE Heidrick & Struggles International, Inc.
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