Shares in Robert Walters (RWA) have fallen 15 per cent since it reported interim results in August, but the group’s latest trading update went some way to restoring confidence, sending the price up 5 per cent in reaction.
IC TIP:
Buy
at
644p
The large UK-listed recruiters have delivered stellar performances in recent years, but all three of the big London-listed players - RWA, Pagegroup (PAGE) and Hays (HAS) - have seen their share prices drop in recent months. The fall is likely due to fears we are approaching the end of the economic cycle, which would lead to reduced profitability if it affected confidence among employees. But RWA’s business shows no signs of slowing down, with broad-based growth and net cash more than tripling to £41.3m.
