Robert Walters: IT recruitment profit jumps despite Brexit

JobsRecruitment
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The UK generated a 7 percent increase in net fee income for the international hiring company

IT recruitment firm Robert Walters has posted a positive trading update for its second quarter, despite uncertainty around the referendum and the resulting Brexit.

For the second quarter ended 30 June, the international hirer said gross profits (net fee income) jumped to £69.3 million, up 16 percent.

The UK contributed £21.6 million of this total, up 7 percent. In the UK, said the company, there were “solid results against an uncertain backdrop with a particularly strong performance from Resource Solutions”.

Europe-Landscape-185x136Europe net fee income (£15.4 million in net income for the second quarter) was up 37 percent, with all markets across the region “performing well”.

Robert Walters, chief executive, said: “The group performed well in the second quarter increasing net fee income by 16 percent year-on-year.

“Looking ahead, despite the uncertainty in the UK market, the strength of our globally diversified
business, our robust balance sheet, and blend of permanent, contract and recruitment process
outsourcing revenue streams, ensures we are well positioned to take advantage of growth
opportunities where they arise.”

The group will publish its full half-year results for the six months ended 30 June 2016 on 28 July.

@AntonySavvas