Robert Walters Q2 profit up 16% amid growth across regions

Recruiter Robert Walters posted a 16% rise in second-quarter gross profit on Tuesday amid growth across its regions and business lines.

Gross profit rose to £100m from £86.3m in the same quarter a year ago, with profit in Europe up 23% to £24.6m as Germany, Portugal, Spain and Switzerland produced the strongest rates of growth. In Other International, profit was 21% higher at £7.5m, with North America and the Middle East the standout performers.

Gross profit in Asia Pacific increased 13% to £40.5m, with Japan, Indonesia, the Philippines and Vietnam delivering the strongest rates of net fee income growth.

Meanwhile, in the UK, profit rose 12% to £27.4m, with Manchester, Milton Keynes and St Albans performing particularly well.

Group headcount was 3,997 versus 3,894 at the end of March, and the company had net cash of £22.9m as at 30 June compared to £18.4m at the same time last year.

Chief executive Robert Walters said: "The group delivered another quarter of strong net fee income growth across all regions. We have continued to benefit from the diversity of both our international footprint and recruitment revenue streams, with net fee income for the first six months of the year up 18% in constant currency (15% actual)."

At 1000 BST, the shares were up 0.5% to 769.50p.