Robert Walters (RWA: LSE), the international recruitment firm, has provided a trading update for the first quarter ending 31 March 2017. Group net fee income increased by 20% in constant currency to £78.3 million, compared to £59.0 million during the same period last year.

According to Robert Walters, Q1 2017 was a record quarter for the group.

“In Asia, Japan continued to perform well and our emerging markets of Vietnam and Indonesia produced the strongest rates of net fee income growth. Mainland China continued to be challenging although Hong Kong returned to growth,” Robert Walters, Chief Executive said. “Double-digit net fee income growth in Australia and continued strong performance in New Zealand.”

The group stated that Resource Solutions, its recruitment process business, successfully grew its client portfolio and the group continues to invest in growing this service offering across the APAC region.

In the UK, the group noted an upturn in financial services recruitment activity in London and said there were good performances in legal recruitment and the UK regions. Net fee income grew in Resource Solutions and there was continued headcount growth to support new business wins.

In Europe, all markets showed growth in net fee income. Spain, Germany and the Netherlands produced the strongest rates of growth, all increasing net fee income in excess of 25%. France, the region's largest business, increased net fee income by 20%.

In Other International, which includes North America, Brazil, the Middle East and South Africa, net fee income grew the strongest across North America.

"It's been a positive start to the year with Group net fee income increasing by 20%. We remain confident about the Group's prospects for the full year," Walters said.

The group will publish a trading update for the three months ending 30 June 2017 on 12 July 2017.

In trading today, Robert Walters Plc (RWA:LSE) set a new 52-week high when it reached £450.00. Over this period, the share price is up 41.96% and 4.29% on the day. Based on its current share price the company has a market value of £321.24 million.