Robert Walters waits for job market uptick

Marion Dakers
RECRUITMENT firm Robert Walters is looking for growth overseas as it waits for the UK jobs market to improve, it said in a trading update yesterday.

The firm’s eponymous chief executive said the firm will “continue to invest in areas which will enable us to build our market position” while trimming its cost base in regions that are faring less well.

“The market is still challenging and there is yet to be an indication that the situation will improve in 2013,” he said.

The group, which makes half of its earnings in Asia Pacific, made gross profits of £47.4m in the three months to the end of December, up two per cent, or four per cent stripping out currency changes.

The UK business posted gross profits up four per cent at £12.5m, which the firm said was “commendable... despite a difficult economic backdrop”.

“Group net fee income for the year was £188.2m (2011: £183.6m). This is a solid performance and we expect to meet our 2012 targets,” the FTSE-listed company said in a statement.