Robert Walters Suspends Final Dividend as 2025 Loss Prompts Deeper Cuts

Overview

• Revenue fell 12% to £781.1m and net fees dropped 15% to £274.2m, resulting in a £14.9m operating loss and a £19.6m pre-tax loss.
• The board opted against a final payout as year-end net cash declined to £26.2m following the 2024 dividend payment and weaker operating cash flow.
• Average headcount was reduced by 15% with £4.4m of redundancy costs, while operations in Brazil and Canada were closed and the US footprint was consolidated.
• Northern Europe softened with declines in France and Germany, Asia Pacific net fees fell with New Zealand stronger, and the UK returned to second-half growth yet posted a £7.5m operating loss.
• The group lifted its annual savings target to at least £12m by 2027 and plans further reductions to the cost base and greater cross-selling, with analysts modeling 2026 net fees down about 3%.