July 10, 2018 / 6:43 AM / 4 months ago

UPDATE 1-UK recruiter Robert Walters' gross profit rises 16 pct on overseas growth

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July 10 (Reuters) - Recruiter Robert Walters Plc on Tuesday posted a 16 percent rise in second-quarter gross profit, boosted by growth in its international markets.

The company, which places people in finance, engineering, legal and marketing jobs, has been expanding internationally as growth in its home market has slowed amid uncertainties after Britain’s vote to leave the European Union.

Robert Walters said its gross profit rose 13 percent in Asia Pacific, the company’s largest market, with Japan, Indonesia, the Philippines and Vietnam delivering the strongest net fee income growth rates.

Net fee income from Europe rose 23 percent in the quarter, while in the UK, it rose 12 percent, the company said, adding that legal and IT recruitment marked strong growth in London.

British employers hired permanent staff last month at the slowest pace since October as a shortage of available workers caused the labour market to slow, a survey of recruitment firms showed on Friday.

Robert Walters said gross profit, or net fee income, rose to 100 million pounds ($132.3 million), in the three months ended June 30, from 86.3 million pounds a year earlier. It rose 18 percent on a constant currency basis.

$1 = 0.7557 pounds Reporting by Arathy S Nair in Bengaluru; Editing by Amrutha Gayathri

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