(Adds details on key markets, headcount, shares)
* PageGroup, Robert Walters raise annual profit targets
* Companies say June saw significant improvement in hiring
* Shares in both cos rise as much as 6% each
July 7 (Reuters) - British recruiters PageGroup and
Robert Walters raised their annual profit forecasts on
Wednesday on increased hiring across their biggest markets last
month, signalling a recovery for an industry hammered by the
pandemic.
Shares in PageGroup and Robert Walters rose as much as 6%
each in morning trade following the news.
Recruiting firms globally suffered last year as the pandemic
forced most businesses to halt hiring, but COVID-19 vaccinations
and the re-opening of some economies have encouraged firms to
resume recruiting.
Both PageGroup and Robert Walters, which each operate in
more than 30 countries, reported higher June-quarter profits
from a year earlier but struck a cautiously optimistic tone in
their respective statements on Wednesday.
"At this stage of the recovery, it is not easy to determine
whether the improved performance is still the result of pent-up
supply and demand, or a sustainable trend," PageGroup Chief
Executive Officer Steve Ingham said in a statement.
PageGroup's German business saw a "record quarter" and its
technology-focused business also benefited from pandemic-driven
trends around remote work, the company said.
Within Britain, London was a bright spot for Robert Walters,
which noted strong recruitment activity across the commerce,
finance, legal and technology sectors.
PageGroup, which helps hire executives, professionals and
clerical staff, now expects annual operating profit of between
125 million-135 million pounds ($173 million-186 million), up
from a prior estimate of 90 million to 100 million pounds.
Robert Walters projected annual profit be "significantly
ahead" of the level it guided in June.
Page's June-quarter gross profit rose 2% compared to the
same period in 2019 before the pandemic, while Robert Walters
reported its first profit rise in a year.
With hiring gaining steam, their consultant headcount also
increased to deal with the rise in demand for their services,
they said.
($1 = 0.7243 pounds)
(Reporting by Indranil Sarkar and Yadarisa Shabong in
Bengaluru; Editing by Shounak Dasgupta, Saumyadeb Chakrabarty
and Angus MacSwan)