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Major UK recruiter makes a mint amid Brexit uncertainty

Lianna Brinded
Head of Yahoo Finance UK
London skyscrapers. Photo: Prisma by Dukas/UIG via Getty Images

One of the UK’s largest recruiters, Robert Walters (RWA.L), reported a major jump in income despite political uncertainty in Britain and France.

The London-based specialised recruitment consultancy, which has a presence across five continents, revealed in its latest trading update that the group’s net fee income was up 10% year-on-year. It also said that 72% of the group’s net fee income was now derived from outside Britain.

Robert Walters, CEO of the firm, said today:  “All the group’s regions delivered growth in net fee income despite economic and political uncertainty in a number of markets, particularly the UK and France. Current trading is in line with market expectations for the full year.”

The group saw growth in net fee income across the board:

  • Japan, Mainland China, the Philippines, Thailand and Vietnam:  +15% in each market.
  • Germany and Spain: +25%.
  • Other International (the Americas, Middle East and South Africa): +22%.

The group will publish a trading update for the quarter ending 30 June 2019 on 9 July.

READ MORE: Brexit drives 50% drop in vacancies in London’s finance sector