Finance recruiter cautiously optimistic for 2010

Gross profit for recruiters Robert Walters fell 25% to £104.4m for the year ending December 2009, with operating profits at £1.6m.

The first half of the year saw a significant decline in hiring activity, but H2 saw signs of the market stabilising with financial services appointments in Asia in particular.

UK revenues were down to £116.5m from £133.2m a year earlier. Financial services hirings picked up in H2 although market conditions remained "generally weak" across all sectors and disciplines.

But in a sign of its confidence going forward, the recruiters will make " strategic" hires across all regions going forward.

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