I guess if there’s one lesson UK-headquartered recruitment firms have learned in recent years, it is to get out of the UK! Today’s results from Robert Walters reinforce the point made by Hays yesterday (see Hays reports strong growth despite tough UK public sector) and SThree earlier this year (see SThree still seeking the new normal) that growth markets lie beyond our fair shores. Indeed, almost half of Robert Walters’ gross profit and 85% of its operating profit derives from its activities in the Asia/Pacific region.
Across the group, 2010 revenues rose by 34% at constant currency to £424m, with operating margins at 3.1% (2009: 0.5%). CEO Robert Walters reported ‘satisfactory’ performance in the UK (37% of revs, 29% of GP), with IT highlighted as one of the star areas.