🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Robert Walters third-quarter fee income climbs on robust hiring in Europe, Asia

Published 09/10/2018, 08:47
© Reuters. Workers are seen crossing London Bridge with The Shard seen behind during the morning rush hour in London
PAGE
-
HAYS
-
STEMS
-
RWA
-

(Reuters) - British recruiter Robert Walters Plc (L:RWA) on Tuesday reported a 11.6 percent rise in third-quarter net fee income on increased hiring in Europe and Asia, and said recruitment activity was at its highest levels across Britain.

Quarterly net fee income rose 15 percent in Asia-Pacific and 21 percent in Europe, with Germany, Portugal, Spain and the Netherlands putting in record performances, Robert Walters said.

In Britain, Birmingham, Manchester and Milton Keynes produced the strongest rates of net fee income growth, said Robert Walters, which places people in finance, engineering, legal and marketing jobs.

"In London, legal recruitment was particularly active, whilst pockets of growth emerged in financial services albeit from a low base," it added.

The company said net fee income rose to 101.2 million pounds, for the three months ended Sept. 30, from 90.7 million pounds a year earlier.

Robert Walters and its rivals SThree (L:STHR), PageGroup (L:PAGE) and Hays (L:HAYS) are geared up for Britain's looming departure from the European Union, which has caused jitters in the country's job market.

Britain is set to leave the EU in March 2019, but has yet to reach an agreement with the bloc's negotiators on the terms of its departure, leaving open the possibility of an economically disruptive 'no deal' exit.

A Reuters survey found that only 630 UK-based finance jobs had been shifted from the British capital, a global hub for financial services, or created overseas so far ahead of Brexit, while an exit without a deal could hit 5,766 jobs.

© Reuters. Workers are seen crossing London Bridge with The Shard seen behind during the morning rush hour in London

However, two surveys showed on Monday that Britain's businesses are suffering from Brexit-related uncertainty as exports slow, recruitment difficulties mount and investment plans are scaled back.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.