The latest financial results for Q3 2017 have revealed that Robert Walters enjoyed a record breaking quarter, with net fee income of £90.7 million in the three months to September, up from £74.4million over the same period.
In London recruitment levels were high in financial services, commerce and technology sectors, despite a mixed and volatile economic backdrop. The Manchester recruitment market was also extremely active, with employers returning to normal hiring practices despite ongoing uncertainty around Brexit. Overall, in the UK net fee income rose by 15% in the third quarter year-on-year.
Page Group, by contrast, faced a challenging quarter, revealing a 7.6% fall in third quarter profits to £34.9 million in the UK. The recruiter credited the drop in fees to concerns among clients and candidates over Brexit leading to a fall in confidence and reluctance to move jobs.
Fellow recruiter Hays was able to secure a 1% increase in net fees over the same period, but this followed a 5% fall in Q2 of 2017 compared to the same time last year.
Robert Walters latest success comes on the back of a year of growth and expansion, with new offices having opened in Portugal, Canada and the Philippines, in addition to new divisions and regional offices being set up around the globe.
As of 2017, over two thirds of Robert Walters revenue comes from outside the UK, with offices across Asia, Europe, Africa and the Americas. Offering staff the opportunity to develop their career overseas is a core part of Robert Walters international success, with 70 staff transferring internationally within the company over the last year.