Jan 11 (Reuters) - British recruiting firm Robert Walters is betting on steady demand in countries like Japan and Netherlands to offset weak hiring trends in the UK amid a tough economic environment, CEO Toby Fowlston said on Thursday.
The company forecast its full-year pretax profit to be in line with market expectations of 20.5 million pounds ($26.12 million), despite reporting a 10% drop in its fourth-quarter net fees.
That sent its shares up 3.7% to 425 pence by 1100 GMT.
Recruiting firms have been under pressure from a slower economic recovery in China, a lull in the technology sector and macro-economic uncertainties across the globe.
On Tuesday, peer Hays forecast lower-than-expected first-half profit and said the short-term outlook will remain challenging.
However, Robert Walters, which specialises in the legal, accountancy and technology sectors and hiring for white-collar jobs has been expanding into international markets in Asia-Pacific and Europe to offset a steep drop in fees in UK.
UK net fees dropped by 19% in the three-months ended Dec. 31.
Meanwhile, British employers raised pay and recovered some of their appetite for hiring in December, according to a survey.
"Over the course of the last probably six months we haven't seen the hiring environment progress or regress. So I would say it's generally flat lined," Fowlston said in an interview with Reuters.
Robert Walters (RWA)
Hays (HAS)