After a decline in Q3 UK net fee income (gross profit) at recruitment firm Robert Walters (see Robert Walters follows the trend), the UK closed Q4 3% up, against group NFI growth of 12% (at constant exchange rates). But their eponymous CEO warned that market conditions in the UK remain difficult – indeed, UK NFI was down a shade on Q3. Fastest NFI growth came (amazingly) from Continental Europe (+25%), followed by the Americas (+22%). Almost three-quarters of Robert Walters’ NFI now derives beyond the UK.
The UK trend is much in line with that at rival Michael Page (see Michael Page warns on weakening economic outlook), though unlike Robert Walters, they seemed also to suffer in Continental Europe. We'll hear the gory detail from Robert Walters in March.