Robert Walters reports record profits up 265 per cent thanks to recruitment boom
Recruitment group Robert Walters reported a record year this morning, with operating profit increasing by 265 per cent year-on-year to an all-time high of £54.1m.
The spike was fed by fierce competition for talent and a significant wage inflation across all countries and specialist disciplines.
81 per cent of group net fee income derived from international businesses, with Asia Pacific net fee income up 32 per cent to £164.2m, and Europe up 11 per cent to £95.3m.
For the year ending 31 December 2021, the London-listed recruitment firm had a strong balance sheet with net cash of £126.6m.
It also reported a proposed final dividend of 15p per share, compared to 11p per share back in 2020.
Chief exec Robert Walters said: “The jobs market is strong, wage inflation is increasing everywhere and candidate and client confidence is high. Together with the Group’s strong brand, global international footprint covering both well-established and emerging recruitment markets and blend of permanent, interim, contract and recruitment process outsourcing revenue streams it serves to create clear opportunities across the recruitment market.
“We are however mindful of the macro-economic and political uncertainties that do exist. To date, early 2022 trading is in line with Board expectations.”