Growth in UK boosts Robert Walters’ fees

GLOBAL recruiter Robert Walters has seen a spike in fees during the third quarter, driven by strong growth in the UK and Asia.

Robert Walters said that gross profit for the three months to the end of September soared 65 per cent to £42.5m. The rise is against a low comparison last year when fees came to £25.8m as the recession took its toll.

Fees derived from the group’s UK business improved by almost 50 per cent to £12.6m.

Chief executive Robert Walters said: “Trading in the UK has been positive, in spite of continued economic uncertainty and our offices in Europe have done well to achieve a healthy increase in net fee income during the quieter summer period.”

The group’s Asia Pacific business remained the strongest performer after delivering a 92 per cent hike in fees. The rise sees this unit’s fees rise to £21.5m from the £11.2m it posted the year before.

Meanwhile, the group’s European arm, which has lagged behind the rest of the regions, posted a 33 per cent growth compared to 2009. The Americas and South Africa, the smallest region for Robert Walters, saw fees rise by 61 per cent to £900,000.

Robert Walters also bolstered its global footprint after opening new offices in Germany and South Korea and adding 408 new staff members. “We have taken steps to maximise opportunities where we see strong growth,” said Walters.