Sydney, (ANTARA News/Xinhua-PRNewswire-AsiaNet) - Heidrick & Struggles increased its 
net revenue by 58.8 per cent in the Asia Pacific region last year, driven by continuing high demand for leadership advisory and executive search services.
Net revenue for APAC was $US78.6 million. Operating income of $US15.9 million increased 20.1 per cent compared with 2006 and the operating margin was 20.3 per cent, compared with 26.8 per cent in 2006 as the firm invested in infrastructure to support its expansion.
Regional managing partner Gerry Davis says that Australia New Zealand, Greater China and Singapore recorded the highest growth rates, with ANZ revenue up 118 per cent on last year, Greater China up 33 per cent, Singapore 72 per cent, India, 29 per cent, Japan 33 per cent and Korea 61 per cent.
Davis says that an aggressive recruiting effort and investment in information technology infrastructure have provided a strong foundation for further regional expansion in 2008.
"Offices have also been expanded and upgraded to cater for the increased headcount. We have opened an office in Bangkok, Thailand to address the significant demand for multi-national and in-country executives," Davis says.
The scale of reach of the Heidrick & Struggles operation in Asia Pacific has caused many corporations to seek access to its "thought leadership", industry sector analysis and research materials, Davis says.
Leadership advisory practice leader Steve Langton says the firms advisory work has helped to increase the number of chief executive and non-executive director roles. "Leadership advice leverages the Heidrick & struggles reputation, brand and capability to support clients in addressing their talent concerns they have in a time of leadership transition." Langton says.
Globally, for the fiscal year ended December 31, Heidrick & Struggles reported consolidated net revenue of $US619.7 million, an increase of 29.5 per cent from $US478.5 million in 2006. The firm expects global revenue to grow by between 5 and 8 per cent in 2008.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the worlds 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 managements 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 carry forwards; 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.
net revenue by 58.8 per cent in the Asia Pacific region last year, driven by continuing high demand for leadership advisory and executive search services.Net revenue for APAC was $US78.6 million. Operating income of $US15.9 million increased 20.1 per cent compared with 2006 and the operating margin was 20.3 per cent, compared with 26.8 per cent in 2006 as the firm invested in infrastructure to support its expansion.
Regional managing partner Gerry Davis says that Australia New Zealand, Greater China and Singapore recorded the highest growth rates, with ANZ revenue up 118 per cent on last year, Greater China up 33 per cent, Singapore 72 per cent, India, 29 per cent, Japan 33 per cent and Korea 61 per cent.
Davis says that an aggressive recruiting effort and investment in information technology infrastructure have provided a strong foundation for further regional expansion in 2008.
"Offices have also been expanded and upgraded to cater for the increased headcount. We have opened an office in Bangkok, Thailand to address the significant demand for multi-national and in-country executives," Davis says.
The scale of reach of the Heidrick & Struggles operation in Asia Pacific has caused many corporations to seek access to its "thought leadership", industry sector analysis and research materials, Davis says.
Leadership advisory practice leader Steve Langton says the firms advisory work has helped to increase the number of chief executive and non-executive director roles. "Leadership advice leverages the Heidrick & struggles reputation, brand and capability to support clients in addressing their talent concerns they have in a time of leadership transition." Langton says.
Globally, for the fiscal year ended December 31, Heidrick & Struggles reported consolidated net revenue of $US619.7 million, an increase of 29.5 per cent from $US478.5 million in 2006. The firm expects global revenue to grow by between 5 and 8 per cent in 2008.
About Heidrick & Struggles International, Inc.
Heidrick & Struggles International, Inc. is the worlds 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 managements 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 carry forwards; 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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