Robert Walters sees leap in fee income

Robert Walters has reported a 20% increase in UK net fee income in the six months ended 30 June.

The international recruitment group’s results, published this morning, reveal UK NFI grew from £40.2m to £48.3m year-on-year.

In the UK, recruitment activity levels were strongest in London in financial services, commerce finance and technology. Broad-based growth was also reported across the UK regions, with Manchester, Milton Keynes and St. Albans being standout performers.

Across the group, revenue grew 17% from £451.4m to £562.7m, with gross profit up from £128.1m to £164.5m over the period.

All the group’s international regions delivered increases in both NFI and operating profit, with Asia Pacific NFI up 25% to £67.4m and operating profit up 22% to £7.7m with Japan, Korea, Hong Kong, Indonesia, Thailand and Vietnam all delivering record performances.

The group also reported good first-half growth in Australia, with growth strongest in Queensland and South Australia.

In Continental Europe, France, Belgium, the Netherlands and Spain all delivered record performances, with Spain increasing NFI of more than 70%, while in the group’s ‘Other International’ region (North America, Brazil, the Middle East and South Africa) NFI was up 93% to £10.9m.

Commenting on the group’s performance, chief executive Robert Walters said: "The group delivered a record performance in the first half. We continue to benefit from both our international footprint, which now spans 28 countries, including many of the world's fastest growing and emerging recruitment markets, and the breadth of recruitment solutions we provide to our clients.
 
"We enter the second half of the year with confidence that the group's platform for growth is strong. and that we are well positioned to further capitalise on market opportunities as they arise."
 
Robert Walters will publish an interim management statement for the third quarter – ending 30 September – on 10 October.

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