Global talent solutions company Hudson Global has seen revenue fall 1.7%, according to financial results for the third quarter ended 30 September 2016.

The results published yesterday on a reported basis reveal revenue of $108.1m (£88m), down 1.7% on the third quarter of last year, but up 1.6% in constant currency.

Meanwhile, the group reported a gross margin of $43.5m, down 3.6% on the same period in 2015, or 1.4% in constant currency.

Across Hudson Europe's operations, gross margin increased 2% in constant currency from Q3 2015. The group attributed this growth to Continental Europe, in which gross margin was higher by 19%. Double-digit growth was reported in Belgium, France and Spain. 

Meanwhile in the UK, gross margin declined 16%, as 12% gross margin growth in recruitment process outsourcing was offset by a 21% decline in recruitment. This was driven by reduced demand in financial services and slower hiring patterns following the UK vote to leave the European Union. 

Elsewhere, Hudson Americas’ gross margin increased 16% compared with the third quarter of 2015. 

And in Hudson’s Asia Pacific operation, gross margin fell 6% in constant currency on a reported basis in Q3 2016 on the same period in 2015.