Robert Walters 4Q net fee income rises 8% despite tough market conditions

London-based recruitment company Robert Walters Group announced that group net fee income grew 8% in a constant currency basis since last year with all types of recruitment – permanent, contract, interim and recruitment process outsourcing. Europe region saw the biggest growth of 18%, followed by UK with 8% and Asia Pacific with 3%. Group total net fee income in the fourth quarter was £105.3m Q4 2022, compared to £95.1m in the same quarter 2021.

Headcount grew 2% to 4,356 quarter-over-quarter. Headcount was at height in November and decreased in December due to the tougher market conditions.

Chief Executive Robert Walters said “The global macro-economic backdrop became increasingly uncertain as the quarter progressed resulting in a softening of recruitment activity levels across many of the Group’s markets. Nevertheless, the Group continued to see growth, albeit more muted, across all regions and all forms of recruitment – permanent, temporary, interim and recruitment process outsourcing – with net fee income for the fourth quarter up 8% year-on-year. Group net fee income for the full year was up 20%* with full year profit expected to be a record, albeit slightly below current market expectations. The Group has a strong global brand, a diverse breadth of geographies, disciplines and revenue streams and remains well positioned to both respond to and take advantage of any future market challenges and opportunities as they arise.”