Robert Walters PLC Trading Update (6171C)
14 Junho 2023 - 3:00AM
UK Regulatory
TIDMRWA
RNS Number : 6171C
Robert Walters PLC
14 June 2023
14 June 2023
ROBERT WALTERS PLC
(the 'Company' or the 'Group')
Trading update
Robert Walters plc (LSE: RWA), the leading international
recruitment group, today provides an update on current trading. Net
fee income for the first two months of the second quarter was down
year-on-year by 10%* (down 9% actual) (Q1 2023: 0%*, up 4% actual).
It is now considered likely that profit for the full year ending 31
December 2023 will be significantly lower than current market
expectations.
Reduced levels of candidate confidence and lengthening time to
hire were signalled in the second half of 2022 and, contrary to the
Board's prior expectations, are not yet showing sustained
improvement. Conversely, recruitment market fundamentals such as
job flow, candidate shortages and wage inflation remain solid,
suggesting that when market confidence recovers there will likely
be a return to meaningful growth.
The Group has invested significantly in both headcount and its
global infrastructure over the last two years, and whilst
appropriate cost reduction is central to the management of the
current short-term pressure, we will protect our strategic core to
ensure we can fully benefit from future growth opportunities as
they arise.
The Group will publish a trading update for the second quarter
ending 30 June 2023 on 6 July 2023.
* Constant currency is calculated by applying prior period
average exchange rates to local currency results for the current
and prior years.
- Ends -
Further information
Robert Walters plc
Toby Fowlston, Chief Executive
Officer
Alan Bannatyne, Chief Financial
Officer +44 20 7379 3333
Williams Nicolson
Steffan Williams +44 7767 345 563
About Robert Walters Group
The Robert Walters Group is a market-leading international
specialist professional recruitment group. With over 4,400 staff
spanning 31 countries, we deliver specialist recruitment
consultancy, staffing, recruitment process outsourcing and managed
services across the globe. We match highly skilled professionals to
permanent, contract and interim roles across the disciplines of
accountancy & finance, banking, engineering, HR, healthcare,
technology, legal, sales, marketing, secretarial & support, and
supply chain, logistics & procurement. Our client base ranges
from the world's leading blue-chip corporates and financial
services organisations through to SMEs and start-ups.
www.robertwaltersgroup.com
Forward looking statements
This announcement contains certain forward-looking statements.
These statements are made by the directors in good faith based on
the information available to them at the time of their approval of
this announcement and such statements should be treated with
caution due to the inherent uncertainties, including both economic
and business risk factors, underlying any such forward-looking
information.
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END
TSTNKNBQKBKBOAD
(END) Dow Jones Newswires
June 14, 2023 02:00 ET (06:00 GMT)
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