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(Alliance News) - Robert Walters PLC on Tuesday reported a double-digit rise in profit for the final quarter of 2021, with growth from all regions coming ahead of expectations.
For the three months ended December 31, the London-based recruitment firm posted net fee income of GBP95.1 million, up 33% from GBP71.4 million the same period a year before, and also marking a 1.0% rise from GBP94.2 million posted for the fourth quarter of 2019.
On a constant currency basis, net fee income grew 39% year-on-year.
Robert Walters attributed the income rise in permanent recruitment activity, as well as growth in the contract and recruitment process outsourcing.
Regionally, Asia Pacific showed the highest rate of growth for the quarter, and stood as the largest contributor, with net fee income rising 48% year-on-year to GBP44.8 million.
Growth was strong in the region despite several markets remaining under some form of lockdown, with the largest businesses Japan and Australia delivering an excellent performance.
Meanwhile, net fee income from Europe rose 28% to GBP27.0 million, with a robust performance in France, Belgium and the Netherlands.
For 2021 as a whole, net fee income was up 21% year-on-year. Looking ahead, Robert Walters said its trading is "comfortably ahead" of current profit expectations.
"The fourth quarter was another very strong period for the group with net fee income increasing by 39% year-on-year. We are seeing candidate shortages across all locations and disciplines, a fierce competition for talent and wage inflation kicking in which together create huge opportunities across the recruitment market," said Chief Executive Officer Robert Walters.
Robert Walters will post its annual results on March 8.
Shares were up 2.1% at 827.00 pence on Tuesday morning in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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