Robert Walters PLC (LSE:RWA) will provide some insights into international hiring trends when it delivers a first-quarter update on Thursday 6 April, with its small profit warning in January having rocked the sector's booming confidence.
When the recruiter revealed full-year results it also came with an announcement that its eponymous founder is stepping down as chief executive.
With the first quarter update being less than a month from the final results, it's unlikely there will be any massive shifts, but there are some subtleties worth keeping an eye on.
At the time, the company said market uncertainty it experienced during the second half of last year had tipped over into the early months of 2023 but it was "too early to tell whether this is a short-lived correction or a more prolonged economic slowdown".
Analysts at AJ Bell said this update "should be informative", with Walters, who is to be replaced Toby Fowlston after 38 years at the helm, "flagged fierce competition for candidates and wage growth to match in the first half of 2022", and "increased uncertainty in the second, thanks to interest rate hikes, the ongoing war in Ukraine and spending cutbacks in the technology sector in particular".
Analysts and shareholders will be looking for an update on these trends, with the shares down by a third over the last year.
In the fourth and final quarter of 2022, fee income grew 11% year-on-year, which ended a run of six consecutive quarters of 20%-plus growth.
Look at the regional mix, Europe showed the fastest Q4 growth, followed by the UK and then Asia Pacific, which was held back by China lockdowns, so the first three months of 2023 should show improved momentum there.
"One other useful indicator is headcount," the analysts said. "If Robert Walters thinks there is business to be won and done, it will hire more staff of its own. In 2022, headcount rose by 25% to 4,356."
The current City forecast consensus for the full year is for pre-tax income of £50mln, down from £55.6mln in 2021.