International recruitment firm Robert Walters (RWA: LSE) provided a trading update for the first quarter ending 31 March 2018. Group net fee income increased by 17% in constant currency to £88.5 million, compared to £78.3 million during the same period last year.

Group Net Fee Income was as follows.

Asia, Japan, Indonesia, Taiwan, Thailand and the Philippines recorded the strongest rates of net fee income growth. Market conditions in Singapore remained challenging, however the group stated that it reported good performance in Australia and continued double-digit growth in New Zealand. Resource Solutions also continued to expand its client base across the region.

In the UK, Resource Solutions continued to grow net fee income. Manchester, Milton Keynes and St. Albans were standout performers. Meanwhile, the group added that legal and commerce finance recruitment proved hotspots for growth.

In Europe, Germany, Spain and the Netherlands produced the strongest rates of growth, all increasing net fee income in excess of 35%.

Other International included Brazil, Canada, South Africa, the Middle East and the US.

“The group delivered a strong performance in the first quarter with net fee income increasing 17% year-on-year and growing across all regions. Current trading is in line with market expectations,” Robert Walters, Chief Executive, said.

The group will publish a trading update for the three months ending 30 June 2018 on 10 July 2018.

As of last trade Robert Walters traded at £700.00, no change on the day and 1.69% below its 52-week high of £712.00, set on 9 April 2018. Based on its current share price the company has a market value of £530.12 million.