Robert Walters upgrades guidance as jobs market runs hot

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Recruitment company Robert Walters upgraded its annual profit guidance after it boosted fourth-quarter gross profit by a third.

Profits for the year through December were now anticipated to be 'ahead of expectations', the company said in a trading update.

Gross profit, otherwise known as net fee revenue, rose 33% in the fourth quarter to £95.1 million, bringing growth for the full year to 21%.

'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,' chief executive Robert Walters said.