The results, released this morning, reveal consolidated net revenue in Q3 of 2019 of $182.2m (£141.8m), down from $187.6m in Q3 of 2018. Excluding the impact of exchange rate fluctuations, consolidated net revenue declined 1.6%, or $2.9m.

The group’s executive search business posted net revenue of $166.5m, down 3.2%, or $5.6m, from $172.1m in Q3 of 2018. Excluding the impact of exchange rate fluctuations, executive search net revenue declined 2.0%, or $3.4m.  
Commenting on the group’s performance, Heidrick & Struggles' president and CEO, Krishnan Rajagopalan said: “We are keeping pace with last year's record revenue, despite some geographic variability.

“Strong focus on our business operations has generated increases in year-to-date operating income, operating margin, net income and earnings per share, all on an adjusted basis. Collaboration between executive search and Heidrick Consulting continues to bear fruit. Our acquisition in Brazil gives us a strong platform to grow throughout Latin America.

“We are advancing initiatives that we expect will broaden our capabilities and drive growth, while enhancing our data analytics as we focus on delivering an integrated premium offering to our clients.”