Recruitment agency Robert Walters said its mid-year profits almost doubled on the back of Year 2000 work.
Its shares leapt by 14 per cent to 292 pence after it posted interim pre-tax profits of #3.3 million, up from #1.7 million last year, when it floated on the main market. Shares at that time were worth 105 pence.
"It's going to go bananas out there," said chief executive Robert Walters, who said companies of his type would be some of the few to benefit from the Year 2000 problem. On the back of this, he predicted that computer contracting and recruitment would account for 50 per cent of his company's fee income by 2000, compared to six per cent currently. Total fee income now stands at #12.6 million, most of it from financial recruitment.
Company director Ben Anderson said there are about 400,000 IT vacancies and that Robert Walters is already bringing in people from overseas, particularly India and Australasia.
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