International recruiter Robert Walters has announced that  net fee income for the third quarter was 29% below that achieved in the equivalent period of 2008 in an interim management statement for the third quarter.

The statement said that while trading conditions remain challenging, there have been signs of improvement within certain disciplines, such as banking, and in certain geographies, particularly Asia. The statement adds that the group’s balance sheet remains strong and the board is comfortable with current staffing levels. 

Robert Walters, chief executive, says: “Although the rate of decline in recruitment activity appears to be levelling out in some areas, the uncertain state of the global economy as a whole means that forward visibility remains limited. We are committed to our strategy of growing marketshare and have begun making selective hires to increase capacity where appropriate.”