Robert Walters (RWA: LSE), the international recruitment firm, reported revenue of £562.7 million for the six months ending 30 June 2017, an increase of 17% in constant currency compared with £451.4 million last year.

"The group delivered a record performance in the first half increasing profit before tax by 39% (46% in constant currency) year-on-year,” Robert Walters, Chief Executive, said. “We continue to benefit from both our international footprint which now spans 28 countries, including many of the world's fastest growing and emerging recruitment markets, and the breadth of recruitment solutions we provide to our clients.”

Robert Walters reported that 71% of the group's net fee income derived from their international businesses. Meanwhile, all regions delivered increases in both net fee income and operating profit.

Revenue by geography was broken down as follows:

In the UK, gross profit (net fee income) was up 20% to £48.3m (2016: £40.2 million) The UK also recorded an uplift in operating profit to £4.0 million (2016: £1.8 million). Activity levels were the strongest in London in financial services, commerce finance and technology. The group also reported broad-based growth across the UK regions with Manchester, Milton Keynes and St. Albans the standout performers.

Resource Solutions won several new client deals and continued to benefit from the investment made in 2016.

In Europe, net fee income was up 22% in constant currency to £34.4 million (2016: £28.2 million) and operating profit more than doubled to £3.7 million in constant currency (2016: £2.1 million). The region reported growth across permanent, contract and interim recruitment. France, Belgium, the Netherlands and Spain all delivered record performances with the latter increasing net fee income in excess of 70%.

Asia Pacific net fee income was up 10% in constant currency to £59.3 million (2016: £54.0m) and operating profit up 3% in constant currency to £6.5 million (2016: £6.4 million). The group reported a strong performance in Asia across both established and emerging markets with Japan, Korea, Hong Kong, Indonesia, Thailand and Vietnam all delivering record performances. The group also reported a good first half in Australia with growth strongest in Queensland and South Australia.

Other International (North America, Brazil, the Middle East and South Africa) net fee income was up 67% in constant currency to £9.4 million (2016: £5.6 million) producing an operating profit of £0.3 million in constant currency (2016: operating loss of £0.2 million).

“With full-year profit forecasts having been upgraded only a few weeks ago in response to our second quarter trading update, current trading is in line with current market expectations,” Robert Walters said. "We enter the second half of the year with confidence that the group's platform for growth is strong and that we are well positioned to further capitalise on market opportunities as they arise."

In trading today, Robert Walters Plc traded at £442.00, down 1.84% and 5.96% below its 52-week high of £470.00, set on 13 July 2017. Based on its current share price the company has a market value of £323.3 million.