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Recruitment agency Robert Walters has revealed a jump in net fees in its UK operations after it made significant headcount cuts to offset tougher trading.
The firm’s net fees across its UK market grew 10% to £13.2 million year-on-year in the quarter to September 30.
The London-listed company’s specialist recruitment portfolio, which includes permanent and temporary recruitment, executive search and interim management, increased by 14% in the UK.
The group said the growth was driven by a “good performance” in permanent hiring.
Meanwhile, recruitment outsourcing rose by 19% across UK operations.
Shares in the company jumped more than 6% on Wednesday after the trading update.
Chief executive Toby Fowlston said: “We are seeing continued evidence that the changes we are making within the business are having a positive impact, from strengthening leadership in key markets to improving net fee productivity.”
The firm cut its global workforce by around 15% last year as part of a cost savings drive to offset tougher trading, with the UK hit hardest as it slashed fee-earning roles by a quarter.
Earlier this year, the company announced it would continue to make further cost cuts in 2026 as it hiked its savings target to at least £12 million a year by 2027, up from £10 million previously.
The firm is seeking to bounce back after reporting a £19.6 million loss in 2025.
In Wednesday’s trading update, the company revealed the group’s net fees worldwide grew 1% in constant currency in the quarter to June 30, reaching around £69.7 million.
Net fees from operations in Europe fell 7% to £17.7 million year-on-year in the quarter to June 30, while they decreased slightly to £32.8 million across the Asia Pacific region.
Mr Fowlston said: “We delivered a good trading performance in the third quarter – made possible by great contributions from all our people.
“Among our largest specialist recruitment markets, the UK delivered another strong performance, while Japan, Spain and New Zealand were also up on the prior year.
“Over half of our specialist recruitment portfolio grew on the prior year and recruitment outsourcing also delivered another very good quarter.”
He added: “Whilst global macroeconomic and geopolitical conditions remain volatile, we remain focused on delivering our growth, cost and cash actions.
“There is more to do, but our momentum means we expect the financial result for the full year to be at least in line with current market expectations.”
It is estimated the company will report an operating loss of £8.3 million this year, according to Wednesday’s update.
Established in 1985, Robert Walters operates across 29 countries and counts around 2,800 employees.
