FINANCIALS: Revenue falls 6.9% at Heidrick & Struggles

International executive search firm and talent consultancy Heidrick & Struggles saw its revenue fall by 6.9% in the first six months of 2020, according to results announced today.

Excluding the impact of exchange rate fluctuations, which negatively impacted results by 1.2%, or $4m (£3.1m), consolidated net revenue in the six months to the end of June decreased 6.9% or $23.7m to $317.1m from $344.7m in H2 of 2019.

Despite Covid, the number of executive search consultants working for the company increased during the last 12 months, from 371 as of 30 June 2019 to 394 at the end of June this year. 

Commenting on the results, Heidrick & Struggles’ president and CEO Krishnan Rajagopalan said: “I’m very pleased with the way our people have risen to the occasion and the resilience they have demonstrated in serving the needs of our clients throughout these unprecedented times. 

“Our second quarter results underscore continued demand for our services even in a challenging environment as the ‘new normal’ begins to emerge.”

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