Robert Walters 1H Pretax Profit, Revenue Rose on High Demand

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By Joe Hope

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Robert Walters PLC said Thursday that first-half pretax profit and revenue rose 19% and 15%, respectively, benefiting from high demand amid a shortage of professionals.

The UK recruitment company posted a pretax profit of 26.4 million pounds ($32.1 million) compared with GBP22.1 million for the same period a year earlier. The company said acute talent shortages and wage inflation across all geographies and professional disciplines was creating fierce competition for talent, as demand continues to outstrip supply.

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Revenue rose to GBP538.6 million from GBP468.2 million for the year-earlier period. Net fee income rose 27% to GBP210.5 million.

The board declared an interim dividend of 6.5 pence a share, up from 5.4 pence for the first half of 2021.

“Looking ahead, we are yet to see signs of any slowdown in job market activity despite the volatile macro-economic backdrop and inflationary pressure that is being experienced across global markets,” Chief Executive Robert Walters said.

Shares at 0823 GMT were up 4.0 pence, or 0.8%, at 524.0 pence.

Write to Joe Hoppe at [email protected]

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Credit: www.marketwatch.com /

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