Robert Walters posts 11% jump in net fee income

Recruiter Robert Walters reported an 11% jump in net fee income for the quarter ended 31 December and said full-year pre-tax profit is likely to be ahead of expectations.

Net fee income rose to £76.1m from £59.1m in the same period a year ago, with income in the UK and Europe up 16% and 15% on the year to £23.1m and £17.2m, respectively.

All markets in Europe grew net fee income at constant currency, with Spain, Switzerland and Germany producing the strongest rates of growth.

In Asia Pacific, net fee income was up 3% to £31.7m while Other International saw growth of 32% to £4.1m.

Chief executive Robert Walters said: “All of our regions grew net fee income during the quarter and we opened three new offices, Lisbon, Toronto and Penang.

“Net fee income for the full year is up 9% in constant currency and profit before taxation is expected to be slightly ahead of current market expectations."

At 0952 GMT, the shares were up 0.3% to 358.23p.