Roberts Walters posts Brexit-proof profits

UK recruiter Robert Walters has reported a 16% rise in profits to £28.1million, despite a slowdown in domestic recruitment activity.

Robert Walters, whose stock market value is £300million, saw their UK operating profit grow year on year to £6.4million.

Overall profits grew to £278million with pre-tax operating profits growing to £28.1million.

This comes despite a massive slowdown in business in London.

Robert Walters, CEO of the self-titled firm, said: "I am very pleased to report a record set of results.

“There were areas of notable activity with commerce finance across the UK performing well and our regional recruitment businesses in Manchester, Milton Keynes and St. Albans benefiting from their focus on SMEs to deliver record performances.”

Brexit sparked uncertainty has led to many employers holding off on making staffing decisions, but Robert Walters are among several recruiters reporting post-referendum boosts to business.

Like its competitor Hays, much of Robert Walters’ income comes from international ventures – with 69% of profits coming from overseas business.

Last year, Walters’ added new offices in Canada, India, the Philippines and Portugal.

Walters added: “Looking ahead, we remain mindful of the unpredictable geopolitical environment, however, the group's global footprint coupled with the range of recruitment services we provide positions us well to maximise opportunities for growth as they arise.”

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