Robert Walters recorded a 24% decline in fourth quarter profits.
The employer revealed a decline in profits to £71.4 million from £942 million last year. The company’s profits have fallen in the last two quarters when profits fell 34% and 30% respectively.
Robert Walters has operations in more than 30 countries and said the current climate is challenging, but he is optimistic about the conditions for improvement in the Asia-Pacific region.
Despite falling profits over the past year, full-year profits are expected to come at the top of the forecast.
Robert Walters CEO said:
“It’s their motivation, their passion for business, and it’s focused on supporting clients and candidates who have enabled the group to deliver such resilient performance.” Better performance than expected for the fourth quarter: wise and targeted short-term cost reduction and management measures introduced at the beginning of the pandemic are likely to make year-round profits ahead of current market expectations That means,” he added.
Robert Walters’ shares (LON: RWA) are trading +4.82% at 484,25 (0931GMT).
