January 9, 2018 / 8:01 AM / 9 months ago

UPDATE 1-British recruiter Robert Walters reports 20 pct rise in net fee income

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Jan 9 (Reuters) - British recruitment firm Robert Walters reported a 20 percent rise in full-year net fee income on Tuesday and said trading was “comfortably in line” with market expectations.

The company, which places people in finance, engineering, legal and marketing jobs, said fourth quarter to Dec. 31 gross profit rose 22 percent on a constant currency basis to 90.5 million pounds ($122.7 million).

The company, whose British business recorded a 13 percent rise in gross profit, said activity levels in London were highest across financial services, commerce finance, legal and technology.

Where other recruiters in Britain have seen a slowdown in the aftermath of the 2016 UK vote to leave the European Union, Robert Walters’ results have been broadly stronger, propped up by growth in its domestic outsourcing services business.

Robert Walters, which made 70 percent of its gross profit outside Britain, said Asia Pacific net fee income grew 12 percent helped by a strong performance in Japan, Hong Kong and Vietnam.

The company said in a trading statement on Tuesday that growth was broad based across permanent, contract, interim positions and recruitment process outsourcing.

$1 = 0.7374 pounds Reporting by Radhika Rukmangadhan in Bengaluru; editing by Jason Neely

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