Robert Walters’ net fee income jumps as hiring picks up pace

British recruiter Robert Walters on Thursday posted a 27 per cent jump in its first-quarter net fee income, buoyed by strong performance in Asia Pacific and Europe markets, as clients ramped up hiring after economies reopened gradually.

The recruitment industry is experiencing pent-up demand as it recovers from a Covid-19 pandemic-led hit, with corporates resuming their battle to get suitable talents amid staffing shortages and employee resignations.

Robert Walters, which specialises in recruitment for accounting, legal, and tech jobs, said 82 per cent of the group’s net fee income was now generated by its international businesses, with returns from Asia Pacific and Europe growing by 37 per cent and 40 per cent, respectively, on a constant currency basis.

Growth

The current trading remained in line with expectations, the London-listed firm said, adding that its net fee income for the three months ended March 31st jumped to £98.4 million (€118.1 million), marking a fourth straight quarterly growth.

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The staffing specialist, which operates in more than 30 countries, reported a more than fourfold rise in annual profit last month, with Asia Pacific and Europe regions witnessing the sharpest uptrend in hiring.

Underscoring demand for talent across all markets, the company said it had increased its staff numbers by 9 per cent since the end of 2021. – Reuters