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Recruiter Robert Walters reports 13 percent rise in quarterly fee income

Recruiter Robert Walters reports 13 percent rise in quarterly fee income
FILE PHOTO: Workers are seen crossing London Bridge with The Shard seen behind during the morning rush hour in London, Britain, September 25, 2018. REUTERS/Toby Melville   -   Copyright  Toby Melville(Reuters)
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(Reuters) – British recruiter Robert Walters Plc <RWA.L> said on Thursday its fourth-quarter net fee income rose 13 percent, boosted by strong hiring in Asia Pacific and Europe.

The company, which places people in finance, engineering, legal and marketing jobs, said net fee income rose to 102.3 million pounds, for the three months ended Dec. 31, from 90.5 million pounds a year earlier.

Robert Walters said UK net fee income rose 2 percent, with recruitment activity levels remaining highest across the UK regions. In London, hiring was strongest in technology and financial services, the firm said.

Uncertainties related to Britain’s looming departure from the European Union have caused jitters across the jobs market, though Robert Walters — which competes with SThree Plc <STHR.L>, PageGroup Plc <PAGE.L> and Hays Plc <HAYS.L> — has said it is well prepared.

Robert Walters said in October that it had benefited from Britain’s highest recruitment levels for some time as companies were not moving jobs out of the country ahead of Brexit.

The company, first of UK’s listed recruiters to report quarterly results, has also said any decline in the pound’s value would make Britain’s workforce more attractive to foreign companies.

Europe net fee income rose 22 percent in the quarter, with strong performances in Germany, Switzerland, Spain, Netherlands, Belgium and France.

Robert Walters said net fee income for the full year was 15 percent higher and profit for the year was expected to be comfortably in line with market expectations.

(Reporting by Sangameswaran S and Noor Zainab Hussain in Bengaluru; Editing by Shounak Dasgupta)

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