Firms are ‘bored of Brexit’ and continuing to hire, Robert Walters says


The chief executive of recruitment firm Robert Walters has announced that Companies have become “bored” with the Brexit discussions and are employing staff as normal.

Robert Walters, the chief of the eponymous firm, told there had been steady and strong growth in financial firms, IT and small businesses in London, as well as in regional markets like St Albans and Milton Keynes.

UK profits surged 13 percent to £24.3m in the second quarter, in comparison to rival PageGroup which published a fall in the UK employment hiring recently.

Referring to the UK Market, Mr Walters said: “I think there’s a decent amount of confidence because I think everyone is bored of Brexit.”

There had been worries that businesses would halt hiring in the wake of the Brexit referendum, while discussions about the status of the country’s exit from the bloc were being discussed.

A fundamental concern for some London firms has been the matter of passport, in which financial firms can operate efficiently across the EU area.

Even if financial firms were to move away from the City of London following the UK’s Brexit vote, Robert Walters would still benefit, according to Mr Walters.

“We’re in Frankfurt, Amsterdam, Paris and Dublin so if and when they do move we’ll be earning money in euros, and so that will have a currency benefit,” he explained.

The firm’s total earnings which it gets from fees, jumped 25 percent to £86.3m – it helped in part by the weak pound. Almost three-quarters of its profits come from foreign markets.

Across Europe, its earnings increased by 30 percent to £20m, and in Asia, it jumped by 21 percent to £35.8m.

A rise of as much as 8.94 percent was seen in the group on Wednesday morning at 463 points on the back of the results.

A big confidence from Mr Walters was evident when he said that his expected profit for the full year is ahead of the market forecasts.

Robert Walters plc

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12 Jul, 4:35 PM GMT+1