Robert Walters profit up amid growth across all markets

Recruiter Robert Walters posted a 23% rise in 2015 profit as revenue grew thanks to a strong performance across its markets.

In the year to the end of December, pre-tax profit came in at £22.4m from £18.2m in 2014, as revenue increased 20% to £812.7m.

Operating profit, meanwhile, was up 27% to £23.1m while net fee income rose 9% to £234.4m.

The company said it saw strong net fee income and profit growth all across regions. Asia Pacific net income was up 6% to £96.3m, while net fee income in the UK increased 13% to £80.4m and Europe saw a 6% advance to £46.3m.

Chief executive Robert Walters said: “The group has delivered another year of strong profit growth. This performance has been underpinned by growth across both emerging and established recruitment markets, across permanent, interim and contract recruitment as well as in our recruitment process outsourcing business.”

The company said its expectations for the full year remain unchanged.

"Looking ahead, whilst mindful of ongoing global market uncertainty we believe that the strength, depth and diversity that the group now has in terms of geography, discipline and revenue streams ensures that we are well positioned for the future.”

Robert Walters lifted its final dividend by 18% to 5.13p per share, taking the total dividend to 7.08p from 6p the previous year.

Investec, which rates the stock at ‘buy’, said: “The stock has been caught up in the wider recruitment sector sell-off, but today’s statement should help reassure on the balance of its mix.”

At 1110 GMT, Robert Walters shares were up 4.4% to 311p.