6th Oct 2015 07:11
LONDON (Alliance News) - Recruiter Robert Walters said its net fee income increased in the third quarter across its geographical operations, with a particularly strong performance in the UK.
The company said its group net fee income, or gross profit, rose to GBP60.4 million in the third quarter, up from GBP56.8 million. In constant currencies, the group net fee income was up 11% in the quarter, but was held back by the weakness of the euro.
European net fee income was up 5% in the quarter, but rose 15% in constant currencies, with strong performances in the Netherlands, Belgium, Spain and Ireland. Contract recruitment in France remained robust, but permanent recruitment is still sluggish in the country, Robert Walters said.
The star performer was the UK, where net fee income rose 14% with very strong performances in financial services and legal sectors. Asia Pacific was also held back by currency depreciation, up 1% but up 9% in constant currencies, as growth was skewed to emerging markets like Indonesia, Taiwan, Korea and Vietnam.
Its other international businesses, including the US, Middle East and South Africa, saw net fee income rise 8%, with a currency translation boost from the strong dollar.
"The group has enjoyed another positive quarter of double-digit net fee income growth in constant currency. Both our emerging market and more well-established recruitment businesses continue to perform well, as has Resource Solutions, the group's recruitment process outsourcing business," said Chief Executive Robert Walters.
"The outlook for the fourth quarter remains positive, with current trading in line with our expectations. The group remains confident of its prospects for the full year," he added.
Shares in Robert Walters were down 2.5% to 429.00 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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