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Net fee income rose in all international sectors, reports recruitment firm Robert Walters (RWA: LSE). Group net fee income rose +7% compared with Q2 2012, with quarter-on-quarter net fee growth of +10%.
“The Group continues to trade in line with expectations and delivered a solid performance in the second quarter. In the UK, we have seen improved activity particularly in our regional offices and have grown our market share, placing an increased number of candidates in sectors; such as commerce, HR, legal, and IT,” said Robert Walters, company chief executive.
Net fee income in the UK rose by £1.8 million, equating to an increase of +16%, year-on-year. Robert Walter’s largest sector, Asia-Pacific, recorded the lowest percentage growth, with net fees increasing by +1%. Net fee income in Asia-Pacific rose from £23.9 million in Q2 2012 to £24.3 million in Q2 2013. A +7% increase was recorded in continental Europe, net fee revenue growing by £700,000 to £10.7 million, compared with the same period last year. ‘Other International’ net fee revenue, not encompassed by the above regions, equated to £2.2 million during Q2 2013. In Q2 2012 net fee revenue for ‘Other International’ was £1.6 million, realising growth of +35%, year-on-year.
“While the first half results are encouraging, we remain cautious about the overall global macroeconomic outlook and continue to manage our cost base according,” added Mr Walters.
Robert Walters is one of the 50 largest staffing firms in the world. In early trading, the share price fell by a marginal -0.75% to 212 pence, up +17.5% from a year ago. Based on its stock price, Robert Walters has a current market value of £162.96 million.