The results, released this morning, reveal group revenue rose 3% and 5% in constant currency on H1 2017 to £178.3m from £173.4m.

However, while net fee income increased 1% in constant currency, it was down 1% across the group on the same period last year to £34m from £34.4m.

Indeed, the Americas region was the only segment to post an increase in NFI on H1 2017 – up from £3.4m to £4.2m.

Year-on-year NFI declines were posted in the UK (down from £12.1m to £11.6m), Continental Europe (from £7.8m to £7.5m) and Asia Pacific (down from £11.1m to £10.9m). 

However, a number of strong performances were witnessed across the group. These were in India, within Empresaria’s offshore recruitment services business; in the UK, within professional services; in its business in Chile; and within its recent acquisitions in ConSol Partners, Rishworth Aviation and Pharmaceutical Strategies.

The group added it was pleased with the improved performance in its Middle East business, which is trading in line with expectations

CEO Spencer Wreford commented: “We are investing in our brands to drive growth and productivity improvements through new staff and technology solutions. We are working through the effects of regulatory changes in two of our key markets, Germany and Japan, and are well positioned to return those businesses to growth.

“We continue to look at external investment opportunities and are building a pipeline of possible investments as we look for businesses that will fit with our Group culture and help us to deliver future growth.

“The group is trading in line with market expectations and we have confidence in our prospects and ability to deliver growth.”

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