(Reuters) - British recruiter Robert Walters Plc posted on Thursday a 27% jump in its first-quarter net fee income, buoyed by strong performance in Asia Pacific and Europe markets, as clients ramped up hiring after economies reopened gradually.
The recruitment industry is experiencing pent-up demand as it recovers from a COVID-19 pandemic-led hit, with corporates resuming their battle to get suitable talents amid staffing shortages and employee resignations.
Robert Walters, which specialises in recruitment for accounting, legal, and tech jobs, said 82% of the group's net fee income was now generated by its international businesses, with returns from Asia Pacific and Europe growing by 37% and 40%, respectively, on a constant currency basis.
The current trading remained in line with expectations, the London-listed firm said, adding that its net fee income for the three months ended March 31 jumped to 98.4 million pounds ($128.8 million), marking a fourth straight quarterly growth.
The staffing specialist, which operates in more than 30 countries, reported a more than four-fold rise in annual profit last month, with Asia Pacific and Europe regions witnessing the sharpest uptrend in hiring.
Underscoring demand for talent across all markets, the company said it had increased its staff numbers by 9% since the end of 2021.
($1 = 0.7642 pounds)