Eidhunter Robert Walters and Homeowners Workspace are both riding high for London’s reopening.
Robert Walters today upgraded its profit forecasts, while Workspace claimed an increase in occupancy at its London sites.
Robert Walters posted a 26% jump in third-quarter gross profit to £91.8 million. Business boomed across the UK and Europe, with particularly strong demand in Asia. Speed ”quick” in London is one of the most in demand in the economy with lawyers, technical experts and commercial finance specialists.
Robert Walters, CEO of the same name, said: “Candidate and customer confidence is growing rapidly across all recruitment disciplines and as the candidate shortage becomes more acute, competition for talent is fierce.
“Significant wage inflation has emerged especially for the most in-demand skill-sets. In short, the jobs market is hot.”
Shares rose 28p, or 3.8%, to 760p.
Meanwhile, FTSE 250 firm Workspace said occupancy at its 60 London sites was up 85.6% from 2.7% in the second quarter of its fiscal year.
SMEs are paving the way back to offices. “There are positive signs of momentum,” said CEO Graham Klemet, with more than 1,000 inquiries, 633 views and 175 lettings agreed to on their sites last month. This was above pre-Covid levels.
Bosses are making office plans after the pandemic, with many employees asking for a mix of home and office work.
Klemet said the workspace is well positioned to benefit from the new trend of hybrid working. The company offers flexible leases — typically two years with options to exit after six months — and the scope to take up additional space if needed. It is popular among start-ups and SMEs.
Workspace has registered a significant increase in return to offices in the last three months. Utilization of its centers reached 56% of pre-pandemic levels in the middle of the week and 52% throughout the week by the end of September.
Shares rose 32p, or 4%, to 830p.