Robert Walters PLC on Friday announced a year of double-digit percentage growth, with its eponymous chief executive set to depart after 38 years of leading the firm.

The London-based recruitment company said revenue rose 13% to £1.10 billion in 2022 from £970.7 million in 2021, as net fee income climbed across all forms of recruitment. Pretax profit increased 11% to £55.6 million from £50.2 million. Cost of sales increased 8.8% to £671.4 million from £617.1 million, while administrative expenses were 24% higher at £370.0 million compared to £299.5 million.

It proposed a final dividend of 17.0 pence, up 13% from 15.0p. This brings the total dividend to 23.5p, 15% higher than 20.4p a year prior.

Meanwhile, Chief Executive Officer Robert Walters will retire at the firm’s annual general meeting in late April, passing the reins to Toby Fowlston. Fowlston joined the group back in 1999, and most recently served as CEO for its global recruitment brands of Robert Walters and Walters People. ‘Having worked closely with Toby over the last few years in particular, I am confident that the group is in safe hands and will continue to go from strength-to-strength in the years to come,’ Walters said.

Robert Walters shares fell 0.2% to 491.00 pence each on Friday morning in London.

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