Robert Walters Reports H1 Performance and Strategic Updates
Robert Walters (LON:RWA) reported its first-half performance for 2026 as in line with expectations despite a challenging market environment. Net fees totaled £135 million, down 3% year-over-year on a constant-currency basis. The company noted sequential improvement compared to the previous year and highlighted cost reductions that led to operating costs falling by 6%. A loss before tax of £6.8 million was reported, an improvement from the prior year after accounting for interest and foreign-exchange effects. The firm has reduced annualized underlying costs by approximately £83 million since 2023 and is on track to achieve at least £12 million in structural savings annually compared to its 2023 cost base. Free-cash outflow improved, though working capital produced a £6.3 million outflow due to factors like temporary recruitment volume rebuilding. The company expects net cash levels by the end of 2026 to remain stable relative to year-end 2025. Robert Walters' CEO emphasized geographic expansion and service diversification as key strategies, with growth in specialist recruitment markets such as the U.K., Spain, New Zealand, and Malaysia. The company is also advancing local financing facilities outside of the UK and strengthening its treasury function.
Topics: cost reduction financial performance recruitment industry