Robert Walters Share News (RWA)

* Pick up in permanent and interim hiring
* Businesses resilient to Omicron so far, CFO says
* Shares rise as much as 4%

(Writes through with CFO comment, shares, background)
By Amna Karimi
Jan 11 (Reuters) - British recruitment group Robert Walters
on Tuesday forecast annual profit would exceed current
expectations after posting higher quarterly net fees, driven by
organisations hiring for the longer term and with vacancies to
fill.
"We are seeing candidate shortages across all locations and
disciplines, a fierce competition for talent, and wage inflation
kicking in which together create huge opportunities across the
recruitment market," Robert Walters, chief executive officer of
the eponymous company, said in a statement.
Shares of the FTSE Small Cap rose as much as 4% in
morning trade. The stock, which rose nearly 63% in 2021, was
trading 2.2% higher at 828 pence by 1100 GMT.
Recruiters were severely hit at the start of the pandemic as
companies froze new hiring. This demand returned due to higher
vacancies amid hybrid working and seasonal hires ahead of the
holiday season.
However, the Omicron variant has raised fresh concerns
globally and high inflation rates which have pushed up the cost
of living, along with labour shortages, are putting pressure https://www.reuters.com/world/uk/uk-pay-settlements-rise-22-wage-pressure-starts-show-xperthr-2021-12-16
on employers to increase wages to attract and retain workers.
The first lockdown at the beginning of the pandemic was the
deciding stress-test, with businesses now having adapted to the
uncertainties, Robert Walters' finance chief, Alan Bannatyne,
told Reuters.
"Many things were stress-tested by the original outbreak of
COVID. Everything we are seeing so far (with Omicron) is less
dramatic and businesses have proven to be resilient as well,"
Bannatyne said.
Gross profit at the recruitment group, which specialises in
the likes of accounting, legal and tech staff, rose 33% to 95.1
million pounds ($129.2 million) for the quarter ended Dec. 31,
helped by a 48% growth in its biggest market, Asia Pacific.
Robert Walters also pointed to a strong performance in
December, with a bounce-back in European hiring just as the
Omicron coronavirus variant began spreading.

($1 = 0.7359 pounds)

(Reporting by Amna Karimi and Pushkala Aripaka in Bengaluru;
editing by Uttaresh.V and David Evans)