Belfast Telegraph

Robert Walters delivers further profit cheer as UK jobs market holds firm

The group said UK fee income lifted 15% in a record third quarter, which saw overall gross profit jump 22% higher to £90.7 million.

Recruitment firm Robert Walters has upped its earnings outlook once again as UK hiring continues to shrug off Brexit fears.

The group said UK fee income lifted 15% in a record third quarter, which saw overall gross profit jump 22% higher to £90.7 million.

Shares in the firm lifted 7% as it said full-year pre-tax profits would be higher than expected after the bumper performance in the three months to September 30.

This marked the second earnings upgrade since July as it has rebounded following a collapse in financial services recruitment after last year’s EU referendum.

Rivals such as PageGroup were hit harder by the post-Brexit uncertainty.

Chief executive Robert Walters said: “The group has delivered another quarter of record results with net fee income growing 21% year-on-year.

“All of the group’s geographic regions grew net fee income strongly and growth was broad based across permanent, contract, interim and recruitment process outsourcing.”

The firm said UK recruitment activity was highest across technology and legal sectors.

The regions also delivered good growth, with St Albans and Manchester the standout performers, it added.

The UK comprises almost a third of Robert Walters’s total income.

Its overseas operations also had a strong third quarter, with net fee income 14% higher in Asia Pacific, 31% up for Europe and 74% stronger across other international markets.

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