Return to hiring across the UK boosts Walters
WHITE collar recruiter Robert Walters has cheered signs of a broad bounce in the British jobs market that has helped boost its profits 30 per cent.
The firm’s eponymous chief executive said the recovery in hiring after several tough years has a “rather solid nature”.
“It’s not led by only one specialist area, it’s across the board by both geography and sector. It’s SMEs through to large corporates,” Walters told City A.M.
While the firm described jobs activity in the City as “muted”, Walters said the rise in deal-making and stock market floats will at some point drive job creation. “Most financial companies are taking it very carefully, they want to make their people work harder before hiring,” he said.
For 2013, Robert Walters posted a five per cent rise in revenues to £597.7m and pre-tax profits rose 30 per cent to £10.1m.
Net fees rose in all regions once currency movements are stripped out.
The recruiter’s Japanese business saw record levels of activity, offsetting an unsteady market in Australia – though Walters said there were early signs of optimism following the recent natural resources slump.
Asia, which represents almost half of the firm’s net fee income, posted a four per cent rise in fees at constant currency to £92.1m.
UK fee income soared 15 per cent, helped by cities outside of London and a push into more IT, legal and supply chain recruitment. The company is weighing up opening a new UK office in the coming year.
European fees rose two per cent at constant currency to £42m.