Net revenue growth slowed to £105.6mln in the three months to March, up 4% on the previous year but well down on the 9% seen in the first half.
“Ongoing uncertainty surrounding Brexit, the US-China trade tariff standoff and Hong Kong protests, coupled with the significant impact of the gilets-jaunes protests” all contributed to softening trading conditions in the last three months.
Chief executive Robert Walters said that “as a result of these macro uncertainties, the Group now anticipates delivering annual profits in line with the prior year”.
In 2018, the recruiter posted profits of £49.1mln.
UK activity was the worst hit in the last quarter with revenue shrinking 11% in the period, which the company blamed on nervousness both from employers and prospective employees.
Robert Walters fared better in international trading which now accounts for 76% of the company’s net fee income, and Continental European income was up 9%.
Competitor PageGroup also warned today of a worsening trading outlook, slashing its full-year expectations by 10%.
Shares in Robert Walters dropped 8% to 451.5p in early trading on Tuesday morning.