6th Jul 2022 10:08
(Alliance news) Robert Walters PLC on Wednesday reported a rise in quarterly net fee income as it expects full-year profit to be "slightly ahead of current market expectations".
For the second quarter of 2022, the London-based recruitment firm reported net fee income of GBP112.0 million, up 26% from GBP89.0 million during the same period a year ago.
The company said it opened its first office in Milan, Italy during the period. The Europe business reported 35% growth in net fee income, to GBP31.5 million.
In the UK, net fee income grew 13% to GBP20.4 million, the slowest pace of growth by geography.
Chief Executive Robert Walters said: "We have continued to invest in additional headcount to ensure we are able to further capitalise on the current demand for talent that exists across our global footprint and specialist disciplines, with staff numbers increasing by 7% since the end of March.
"This continued strong performance means that profit for the full year is now expected to be slightly ahead of current market expectations."
The company also announced the resignation of Non-Executive Chair Ron Mobed. He will leave on July 15. Robert Walters noted he has led the company through the pandemic to its current "record performance".
Mobed said: "With the group performing so well, I have decided to step down from my role to focus on other projects. Robert Walters is a great company and has a strong management team. I am confident that the group will continue to go from strength to strength."
Tanith Dodge will undertake the role of Interim Non-Executive Chair while the board decides a successor.
Robert Walters shares were up 2.2% at 520.20 pence each on Wednesday morning in London.
By Xindi Wei; [email protected]
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