Ireland ‘stand-out performer’ for British recruiter

International recruitment firm Robert Walters has highlighted Ireland as being a “stand-out performer” for the business in its latest trading update.

The British recruiter, which has offices on all continents, yesterday reported an 11% year-on-year jump in group gross profit for the second quarter of the year, to £60m (€85m).

The company’s balance sheet remains strong, with net cash at the end of the period amounting to just shy of £15m and marginally up on the same period last year.

While managementpointed to the “exceptional growth” it is seeing in its newer businesses in emerging markets in Asia as being particularly encouraging; it noted strong net fee income increases in the US, South America, and the Middle East; as well as Europe.

Combined European net fee income was up by 16%, on an annualised basis, in the three months to the end of June.

“Europe net fee income was up 16%, in constant currency terms, with Spain, Ireland and the Netherlands the stand-out performers,” the company noted.

In a brief research note, Colm Foley of Goodbody Stockbrokers suggested the Robert Walters update provides a “positive read-through” for Irish peer CPL Resources, which is due to publish its full-year results in September.