(Reuters) – Recruiter Robert Walters said on Tuesday its full-year profit is expected to be slightly below market expectations, as the firm tries to navigate an uncertain global macro-economic environment.
After benefiting from a staff shortage-driven jobs market, recruiters are now staring at challenging times as a bleak economic outlook and fears of recession are making employers more cautious about their hiring plans.
“The global macro-economic backdrop became increasingly uncertain as the quarter progressed resulting in a softening of recruitment activity levels across many of the Group’s markets,” Chief Executive Officer Robert Walters said in statement.
The company, which specialises in recruitment of staff in legal, accountants and tech sectors, however, said its group net fee income for the full year rose 20%.
For the fourth quarter ended Dec. 31, the company’s net fee income was up 11% at 105.3 million pounds ($127.97 million).
($1 = 0.8228 pounds)
(Reporting by Radhika Anilkumar and Amna Karimi in Bengaluru; editing by Uttaresh.V)
