Robert Walters has joined rival recruitment firms Hays and PageGroup in reporting weaker quarterly performances across all major territories. The white collar recruiter, whose namesake founder retired last year, saw net fee income decline 12 per cent on a constant currency basis to £79.9million in the three months ending September. Recruitment firms have struggled with slowing trade this year as higher interest rates and economic uncertainty have dissuaded companies from hiring new staff. Both PageGroup and Robert Walters have cautioned that client and candidate confidence rates has 'yet to show signs of material improvement'. Robert Walters shares were flat at 351p on late Tuesday morning, meaning they have slumped by around a quarter this year.

Source: Daily Mail October 15, 2024 12:30 UTC