Robert Walters Plc (RWA.L), a British recruitment firm, on Tuesday reported a decline in net fee income or NFI for the first-quarter, mainly due to challenging market conditions across its markets.
For the first-quarter, the company posted a NFI of 81.3 million pounds, lesser than 102.4 million pounds, posted for the same period last year.
NFI from Asia Pacific region stood at 32.9 million pounds, compared with 43.4 million pounds last year.
Europe generated NFI of 28.7 million pounds as against previous year's 34.3 million pounds.
NFI from the UK moved down to 13.1 million pounds from 16.3 million pounds in 2023.
Rest of the world recorded NFI at 6.6 million pounds, compared with 8.4 million pounds a year ago.
Toby Fowlston, Chief Executive, said: "In-line with the latter part of 2023, overall trading conditions remained challenging during the first quarter of 2024. Although certain macro-economic indicators, such as inflation, continue to moderate in some markets, the general environment remains one where client and candidate confidence is at low levels, which we expect to continue to be a headwind to fee income growth in the near-term."
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