- Recruitment company Robert Walters upgraded its profit outlook, citing cot cutting a smaller-than expected fall in fourth quarter revenue.

Robert Walters said profit for the year through December was now 'likely to be ahead of current market expectations.

Net fee income, or gross profit, for the three months through December fell to £71.4 million, down from £94.2 million year-on-year.

Robert Walters said the fall represented an improvement on the 33% and 31% drops recorded for the second and third quarters, respectively.

The company's headcount had fallen substantially to 3,147 at 31 December, down from 4,027 a year earlier.

Chief executive Robert Walters said there were signs of improvement in forward-looking indicators during the fourth quarter, particularly in Asia Pacific, the company's largest region.

'That said, it is important to note that the volatile nature of the pandemic means our forward visibility remains limited evidenced by a number of countries recently returning to versions of lockdown,' he said.

At 9:58am: [LON:RWA] Robert Walters PLC share price was 0p at 430p

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