According to results for the quarter to 30 September 2018, the company reveals net revenue of $187.6m (£147m), up from $159.8m in Q3 2017. The group also posted operating income of $20.6m, up 46.8% compared to Q3 2017, while net income more than doubled to $16.5m.

The group’s increase in net revenue was fuelled by the strong performance of its executive search business, which saw net revenue increase 19.4% in the previous year to $172.1m from $144.1m in Q3 2017. This was offset by a 1% drop in net revenue for the group’s consulting business, with net revenue falling to $15.5m from $15.7m in the corresponding quarter of last year.

Commenting on the group’s performance, Heidrick & Struggles’ president and CEO Krishnan Rajagopalan said: “We are very pleased to report another quarter of record net revenue, coupled with additional savings in general and administrative expenses, which led to a continued improvement in operating margin, net income and EPS [earnings per share].”

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