(Alliance News) -Â Robert Walters PLC on Wednesday reported improving trends at the start of 2021 and is confident in beating market expectations for profit in the full year.
Shares in the recruitment firm were up 6.4% at 674.50 pence in London on Wednesday.
Net fee income for the first quarter of 2021 came in at GBP77.3 million, down 12% on a year ago. However, the group noted that this represents an improvement on the 24%, 31% and 33% declines in the preceding three quarters.
Activity levels across permanent, contract, interim and recruitment process outsourcing all trended positively through the quarter, the company added.
"I am pleased to report that the positive momentum in the group's performance since quarter two 2020 has continued through the first quarter of 2021, with candidate and client confidence sequentially improving across most of the group's global footprint," said Chief Executive Robert Walters.
"As a reflection of the improving market sentiment, we increased headcount during the quarter," he said, with headcount rising to 3,221 during the quarter from 3,147 at the end of December.
Walters added: "Whilst it is still difficult to be certain that there will be no further globally disruptive events ahead, the board is currently confident that profit for the year is likely to be comfortably ahead of market expectations."
By Lucy Heming;Â lucyheming@alliancenews.com
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Robert Walters (RWA)