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Robert Walters PLC - London-based recruitment firm - Says annual profit will be ‘significantly lower’ than current market expectations. Net fee income for the first two months of the second quarter of 2023 was down 9%. Robert Walters adds it has not seen sustained improvement in candidate confidence or hire times, despite its prior expectations. Recruitment market fundamentals such as job flow, candidate shortages and wage inflation remain solid, it says, meaning that when market confidence recovers, there will ‘likely be a return to meaningful growth’. Robert Walters is focused on protecting its ‘strategic core’ to ensure it can ‘fully benefit’ from future growth opportunities.
Robert Walters will publish a trading update for the second quarter on July 6.
Current stock price: 409.00 pence, down 12% in London on Wednesday
12-month change: down 11%
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