UPDATE 1-Robert Walters sees H1 loss, shares fall

* Says net fee income falls 28 pct in Jan-April period

* Has cut 249 jobs since start of year

* Shares fall nearly 10 pct (Adds details)

May 8 (Reuters) - British recruitment company Robert Walters Plc (RWA.L) warned on Friday of a first-half loss as net fee income fell due to challenging trading conditions, sending its shares down nearly 10 percent.

The company, which mainly caters to the financial services sector, also said it had cut 249 jobs since the start of the year, bringing headcount down to 1,322.

"Related one-off costs and the adverse market conditions make it probable that the group will report a loss for the first six months of the year," the company said.

Net fee income in the first four months of the year fell 28 percent from a year earlier, indicating a steeper decline in March and April after it fell 21 percent in January and February.

Still, the company said its balance sheet and cash position remained strong.

Robert Walters shares were down 12 pence at 113.5 pence at 0835 GMT on the London Stock Exchange. (Reporting by Balachander Surianarayanan in Bangalore; Editing by Mike Miller)