Robert Walters ditches dividend after swinging to loss
Robert Walters has ditched its final dividend after the recruitment firm’s bottom line took a major hit amid a cautious global sentiment around hiring.
Revenue at the London-listed firm fell 12 per cent to £781.1m over the 2025 financial year – a drop from £892.1m.
The group reported an operating loss of £14.9m, reversing a £5.2m profit in 2024, impacted by £4.4m in redundancy costs, after average headcount was reduced by 15 per cent year-on-year.
Its net cash stood at £26.2m at year-end, down from £52.5m, following the payment of the 2024 final dividend and lower operating cash flows.
The board proposed no final dividend, a move it took in order to preserve the balance sheet during a volatile macro backdrop. This follows its decision not to pay an interim dividend.
Global hiring markets slump
Robert Walters’ cost savings target been increased to at least £12m, up from £10m, to be fully realised in 2027.
The business closed operations in Brazil and Canada and consolidated its US footprint to focus on higher-potential hubs.
In its regions, Northern Europe remains ‘muted’, with France and Germany seeing significant declines, and regional net fees in the Asia Pacific were down, but New Zealand showed significant momentum.
The UK returned to growth in the second half. Despite the wider downturn, consultancy net fees grew 20 per cent for the group, and talent advisory fees nearly doubled.
Chief executive Toby Fowlston said: “2025 was a third challenging year for global hiring markets, with client and candidate sentiment still cautious given the considerable macro and geopolitical volatility of the first half of the 2020s.”
Going into 2026, the group anticipates net fees will remain slightly below 2025 levels. Fowlston emphasised that the group will prioritise “further meaningful reduction in the cost base” and accelerate the cross-sell of “total talent solutions.”