US-based executive search firm Heidrick & Struggles (H&S) has seen global Q1 revenue increase 13.1% year-on-year, buoyed by a strong performance in Europe and the Americas.

The group’s results for the quarter ended 31 March 2016, released late yesterday, reveal consolidated net revenue (revenue before reimbursements) increased to $130.2m (£89.4m) from $115.2m in Q1 2015, a rise of 13.1% or $15m, while net revenue increased 15.9% on a constant currency basis.

In the group’s Americas and Europe regions, Q1 year-on-year revenue increased 16.6% and 36.1% respectively but fell 13.2% in Asia-Pacific over the same period.

The group singled out its global technology & services, healthcare & life sciences, and financial services practices as key drivers of Q1 revenue growth.

However, operating income fell $2.8m to $3.9m year-on-year, along with adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA), down $1.5m to $10.8m. This was attributed to the group incurring a one-off charge knock to operating income and net income of $2.1m in Q1 to reposition its leadership consulting business, mostly within Europe, following the acquisitions of Co Company in Q4 2015 and Decision Strategies International (DSI) in Q1 2016.

The group saw a marginal increase in net revenue from its culture-shaping services business, up 2.8%, or $0.2m, to $8.3m from $8.1m in Q1 2015. H&S has also invested $2.2m in new and existing leadership and client service talent in this area.

Heidrick & Struggles Q1 results at a glance:

• Consolidated net revenue (revenue before reimbursements) increased 13.1%, or $15.0m, to $130.2m from $115.2m in the 2015 first quarter
• Net revenue increased 15.9% on a constant currency basis
• The number of executive search consultants was 313 at March 31, 2016, compared to 307 at December 31, 2015 and 302 at 31 March 2015
• Operating income down $2.8m to $3.9m and adjusted EBITDA, down $1.5m to $10.8m.