British recruitment company Robert Walters Plc (RWA.L) said on Tuesday that its group net fee income in the first quarter declined 17 percent on a reported basis and 16 percent at constant currency rates from last year with weak performance in all regions.
On the LSE, the stock is trading down 3 percent at 220.00 pence.
The company added that the weak sentiment in European markets in the later half of 2024 carried over into the first quarter.
In the first quarter of 2025, group net fee income was 67.3 million pounds, down from 81.3 million pounds recorded a year ago.
Specialist professional recruitment net fee income of 56.0 million pounds fell 16% at constant currency rates.
Recruitment outsourcing net fee income of 11.3 million pounds was down 16%.
The total number of employees were 3,202, down 16 percent from the 3,812 employees in the same period last year. The number of fee earners declined 17 percent from last year, and 4 percent from last quarter, now totaling 1890.
According to Robert Walters, non-fee earners fell 14 percent from the prior-year period to the present 1,312.
The company said that period end net cash came in at around 42 million pounds in the first quarter, compared to 53 million pounds in the previous quarter, relective of the typical outflow profile of the first quarter.
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