Robert Walters Reports Steady H2 Performance Amid Modest Revenue Growth and Margin Resilience

Robert Walters plc delivered a measured performance in the second half of fiscal 2025, reporting revenue of £228.7 million, up 3.2% compared to the same period in 2024. This growth was driven by continued demand in permanent placement and contract staffing across its core markets in the UK, Continental Europe, and the Middle East. The company maintained its adjusted EBITDA margin at 18.4%, a slight improvement from 18.1% in H1, underscoring disciplined cost management amid ongoing inflationary pressures. The firm’s permanent placement segment recorded a 5.1% increase in revenue, while contract staffing grew 1.8%, reflecting uneven recovery in client hiring activity. International operations contributed 58% of total revenue, with strong performances in Germany and the Netherlands offsetting slower momentum in certain Middle Eastern regions. Robert Walters reported a 4.7% year-on-year rise in new business volume, indicating sustained client engagement despite elevated labor market uncertainty. The company reaffirmed its full-year 2025 guidance, projecting revenue between £450 million and £460 million and adjusted EBITDA margin in the range of 18.0% to 18.5%. Management cited cautious sentiment among corporate clients, particularly in financial services and technology, as a limiting factor for near-term expansion. No significant changes to capital allocation or dividend policy were announced. Market reaction was muted, with Robert Walters’ shares trading flat in early trading. The broader services sector showed minimal movement, and no notable shifts were observed in the performance of related indices or commodity benchmarks such as CL=F or ^VIX, suggesting the results were absorbed without systemic market impact.