(Adds analyst comment, details)
July 7 White-collar recruiter Robert Walters Plc
reported a 5 percent rise in second-quarter gross
profit, as an improved business environment encouraged firms to
bring more permanent employees on board.
The staffing company, which places workers in engineering,
legal, marketing and banking jobs, said it expects full-year
profit before tax to be at the upper end of market expectations.
Analysts on average expect a full-year pretax profit of
12.13 million pounds, according to Thomson Reuters I/B/E/S.
"Good performance maintained across the UK, with accounting
and legal the standout performers in both London and the
regions," the company said in a statement.
Gross profit or net fee income - a relevant performance
indicator for recruitment companies - rose to 53.9 million
pounds ($91.72 million) in the three months ended June 30 from
51.1 million pounds a year earlier.
"The group continues to increase its market share and we
believe it is in a strong position going into a cyclical
upturn..." Investec analyst Andrew Gibb said in a note to
Gibb has a "buy" rating on the stock with a price target of
London-listed Robert Walters's shares closed at 311.50 pence
($1 = 0.5877 British pounds)
(Reporting by Abhiram Nandakumar in Bangalore; Editing by Sunil