Robert Walters plc, a UK-based global staffing provider, reported gross profit rose 13% in constant currency during the fourth quarter, with Asia Pacific and Europe posting the strongest growth.

The company, which has operations in the US, noted investment in expanding its global footprint has continued with entry into Chile and the Czech Republic.

In the UK, net fee income growth slowed to 2% in constant currency. Reuters reports that Robert Walters warned of a slowdown in hiring as the UK prepares to leave the EU. The group added that some banking jobs were moving from London to other parts of Europe.

“UK is not going to be a great story,” Chief Executive Robert Walters told Reuters. “Whether you are Jaguar or supermarkets. In recruitment, it’s the uncertainty. I think once the political landscape becomes clearer, we’ll see a bounce back.”

Robert Walters added that recruitment activity levels remained highest across the UK regions. In London, growth was strongest in technology and financial services.

US operations are included in the firm’s “other international” category that also includes Brazil, Canada, South Africa and the Middle East; net fee income in this division fell 5% in constant currency.

Gross Profit (Net Fee Income) was as follows.

“The group delivered another strong set of quarterly results, increasing net fee income by 13% year-on-year,” Walters said. “Our Asia Pacific and European businesses delivered standout performances, with these regions now accounting for 66% of global net fee income. Net fee income for the full year is up 15% and profit for the year is expected to be comfortably in line with market expectations.”

Japan, Indonesia, Taiwan, the Philippines and mainland China delivered the strongest growth, with net fee income increasing by more than 25% in each region. The company also noted strong performance across Australia, with net fee income increasing by 13%, the highest rate of growth for two years.

In Europe, the company reported “excellent performance” continued across the region with all markets delivering net fee income growth. Germany, Switzerland, Spain and the Netherlands all increased net fee income in excess of 25%, and Belgium and France delivered record performances.

On Thursday, Robert Walters shares closed at £560.00, up 0.72% on the day and 17.89% above the 52 week low of £475.00 set on 11 December 2018. Based on its current share price the company has a market value of £423.24 million.