Robert Walters (RWA: LSE), the international recruitment firm, reported Group net income for the first quarter ending 31 March 2016 of £59.0 million, an increase of 8% in constant currency (CC) compared with £53.9 million in Q1 2015.

Net fee income during Q1 2016 was broken down as follows:

“The Group has had a solid first quarter increasing net fee income by 9% with our Asia Pacific and Continental Europe regions delivering the strongest performances,” Robert Walters, Chief Executive, said.

Net Fee Income for the UK was up 2%.

“The slowdown in recruitment activity that we witnessed in the fourth quarter of last year continued into the first quarter with financial services, in particular, heavily impacted. March activity levels did however show signs of improvement,” Walters said.

Meanwhile, net fee income in Europe was up 16%.

“Our larger and well-established businesses in France, the Netherlands and Belgium delivered strong rates of growth. Smaller businesses in Spain and Switzerland also continued to perform well,” Walters said.

“Strong net fee income growth across Asia in both the Group’s mature markets such as Japan and Greater China and emerging markets including Thailand, Indonesia, Vietnam and Taiwan,” Walters said.

“As stated in our recent year-end results, whilst we remain conscious of ongoing global market uncertainty, the Group’s strength, depth and geographic footprint ensure we are well positioned for the future. Expectations for the full year remain unchanged.”

The company’s trading update did not disclose revenue or operating profit developments.

In trading today, Robert Walters traded at £327.80, up 3.41% on the day and 10% above its 52-week low of £298.00 set on 9 March 2016. Based on its current share price, the company has a value of £248.41 million.