UK Jobs Market Recovery Boosts Robert Walters Profits by 36%

Britain's renascent job market has boosted recruitment firm Robert Walters' profits by a whopping 36% in the first half of this year.

As the UK unemployment rate fell to 6.5%, Robert Walters said profit before tax hit £5m (€6.3m, $8.4m) versus £3.7m, during the first six months of this year, while revenue rose to £310m from £289m.

"This performance highlights the group's strength, depth and diversity and is testament to our strategic decision to invest in the business throughout the downturn," said Robert Walters, CEO of the company with the same name.

"This is encouraging, particularly given the challenging market conditions that continued to prevail in France and Australia.

"It is pleasing to see our larger and more mature businesses in markets such as Japan, Hong Kong and the UK performing strongly. I am also very encouraged that our newer operations in emerging recruitment markets such as Thailand, Malaysia, Vietnam and Taiwan have performed well.

"Trading since the half year has been in line with our expectations and the Group remains confident of its prospects for the full year."

Robert Walters' share price is up over 1% at 316.31p.