14th Oct 2026 12:18
(Alliance News) - Robert Walters PLC on Wednesday recounted a strong third quarter, with group net fee growth and a double-digit percentage boost from its UK operations.
In response, the stock jumped 6.5% to 138.50 pence in London.
The London-based recruitment company said that for the third quarter of 2026, group net fees rose 1% at constant currency to GBP69.7 million from GBP69.6 million the year before.
Robert Walters said this was a sequential improvement compared with the first half, when fees declined by 3%.
UK fees increased 10% at reported rates to GBP13.2 million from GBP12.0 million.
Asia Pacific fees decreased 1%, but rose 1% at constant exchange rates, to GBP32.8 million from GBP33.0 million. Europe's, meanwhile, fell 7%, or 6% at CER, to GBP17.7 million from GBP18.9 million.
For the 'Rest of World', net fees rose 6%, or 5% at CER, to GBP6.0 million from GBP5.7 million.
For the year to date, group net fees decreased 3% annually to GBP204.3 million. Asia Pacific fees decreased 2% to GBP91.3 million, while Europe's fell 11% to GBP55.2 million. UK fees grew 6% to GBP38.7 million, and Rest of World fees climbed 11% to GBP19.1 million.
Total net fees in the third quarter declined 2% on-year for the Specialist Recruitment market, which makes up 81% of Robert Walters' net fees. For Recruitment Outsourcing, fees jumped by 19%.
Robert Walters recounted continued progress on its cost base, with the quarter's underlying monthly run rate decreasing to around GBP22 million from around GBP23 million.
The firm's total headcount was 2,772 as of September 30, slightly down from 2,782 as of June 30 and down 8% from 3,029 one year prior. Fee earner headcount decreased 7% on-year to 1,638 employees, and non-fee earners decreased by 11% to 1,134 people.
Robert Walters reduced its global headcount by approximately 15% in 2025, Press Association noted, with UK fee-earning jobs cut by around 25%.
"The group considers existing fee earner headcount levels to be broadly appropriate overall, but will remain agile in positioning the business based on market conditions and fee earner productivity levels," Robert Walters noted on Wednesday.
"We delivered a good trading performance in the third quarter...Among our largest specialist recruitment markets, the UK delivered another strong performance, while Japan, Spain and New Zealand were also up on the prior year," commented Chief Executive Toby Fowlston. "We are seeing continued evidence that the changes we are making within the business are having a positive impact, from strengthening leadership in key markets to improving net fee productivity."
"Whilst global macroeconomic and geopolitical conditions remain volatile, we remain focused on delivering our growth, cost and cash actions," he added. "There is more to do, but our momentum means we expect the financial result for the full year to be at least in line with current market expectations."
Robert Walters cited analyst consensus of a GBP8.3 million operating loss for 2026, which would be narrowed from a GBP14.9 million loss in 2025.
By Emma Curzon, Alliance News reporter
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