Robert Walters sees FY profits 'slightly ahead' of market expectations

Recruiter Robert Walters said on Wednesday that full-year profit was set to be slightly ahead of current market expectations following a continued strong performance.

In an update for the second quarter to 30 June, the company said group net fee income rose 26% to a record £112m. Other international net fee income was up 56% at £10.4m, while Europe saw a 35% jump to £31.5m and the UK registered a 13% increase to £20.4m. In Asia Pacific, net fee income was ahead 22% at £49.7m.

The company said broad-based growth continued across all forms of recruitment - permanent, contract, interim and recruitment process outsourcing.

Chief executive Robert Walter said: "We have continued to invest in additional headcount to ensure we are able to further capitalise on the current demand for talent that exists across our global footprint and specialist disciplines, with staff numbers increasing by 7% since the end of March.

"This continued strong performance means that profit for the full year is now expected to be slightly ahead of current market expectations."

At 0850 BST, the shares were up 4.1% at 530p.