Recruiter Robert Walters hails strong start to year

7th Apr 2022 08:01

(Sharecast News) - Recruiter Robert Walters hailed a strong start to the year on Thursday as it reported a 27% jump in first-quarter net fee income.

Group net fees rose to £98.4m from £77.3m in the first quarter of the previous year, with a record performance in March.

The company said 82% of its net fee income is now generated by the international businesses, up from 78% in 2021, with Asia Pacific and Europe delivering standout performances. Net fee income was up 34% to £43.9m in Asia Pacific, while Europe saw a 35% increase to £29.5m. Other international net fee income rose 32% to £7.1m. In the UK, net fee income ticked up 4% to £17.9m.

The company highlighted broad-based growth across all forms of recruitment - permanent, contract, interim and recruitment process outsourcing.

Chief executive Robert Walters said that despite the ongoing uncertain global political backdrop, the trajectory of growth "continued to be very positive through the first quarter".

"We have continued to invest in additional headcount to ensure we are able to take advantage of the demand for talent that exists across all of our markets and specialist disciplines with staff numbers increasing by a further 9% since the end of 2021," he said, adding that current trading remains in line with board expectations.

At 0820 BST, the shares were up 7% at 725.72p.