Robert Walters share price jumps: UK financial services helps to lift recruitment firm’s profit
Professional recruiter Robert Walters saw its UK profit climb sharply in the three months to September as it was buoyed by a strong labour market.
Recruiters offer a timely barometer of the health of the economy in advance of the release of official statistics, and this time round profit from the UK jumped 15 per cent year-on-year to £21.5m.
The company said the strongest growth came from financial services and the legal sector.
The firm's worldwide profit rose six per cent to £60.4m, a figure which was heavily dented by a fall in the value of the euro against the pound over the last 12 months. This resulted in euros earned on the continent exchanging to fewer pounds.
The firms share price was down 2.27 per cent to 430p at the time of writing.
Robert Walters, chief executive of the eponymous firm, told City PM that employers had not been fazed by recent swings in global financial markets or slower growth in China.
“I think comfortingly steady is the best way of putting it,” Walters said.