By Anthony O. Goriainoff
Robert Walters, the leading UK-based recruitment company, has announced its financial results for the first half of 2022. Despite higher costs, the company’s performance remains in line with expectations.
Pretax profit for the period fell to 8.1 million pounds ($10.4 million), a decrease from the previous year’s GBP26.4 million. However, it’s important to note that revenue increased to GBP548.3 million compared to GBP538.6 million.
Challenges and Opportunities
While the company faced challenges in candidate and client confidence across several markets and specialist disciplines, contract and interim recruitment experienced growth. This flexible solution represented 33% of net fee income, outperforming permanent recruitment.
Europe and Asia Pacific, which make up a significant portion (76%) of group fee income, remained relatively resilient. In contrast, the UK, US, and mainland China businesses experienced adverse effects.
Despite current trading pressures, Chief Executive Toby Fowlston expressed the company’s commitment to protecting its strategic core. The focus is on maximizing consultant productivity, managing costs sensibly, and investing in attracting and developing talent and global infrastructure for long-term success.