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Robert Walters expects annual profit to beat market expectations
July 12, 2017 / 6:30 AM / 5 months ago

Robert Walters expects annual profit to beat market expectations

July 12 (Reuters) - British recruiter Robert Walters said it expects profit before tax for the year to beat market expectations after it reported a jump in fee income in the second quarter.

The company, which places people in finance, engineering, legal and marketing jobs, said on Wednesday that net fee income grew 25 percent in the three months through June to 86.3 million pounds ($111 million). At constant exchange rates, net fee income was up 16 percent.

Net fee income from Britain grew 13 percent at constant exchange rates, with Robert Walters saying activity was “strongest” across financial services, commerce and IT recruitment in London. It made 28 percent of its overall net fee income from the region.

Larger rival PageGroup on Tuesday reported a fall in gross profit from the UK market, saying concern about political stability following last month’s election had compounded the uncertainty caused by the Brexit vote a year ago. ($1 = 0.7802 pounds) (Reporting by Esha Vaish in Bengaluru; Editing by Susan Fenton)

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