Professional recruitment company Robert Walters has announced that its pre-tax profits have more than doubled over the last financial year.

In the year ended in December 2004, the recruitment firm earned £7.2m before tax, an increase of 112% from £3.4m in 2003.

Chief executive Robert Walters said the firm had benefited from the candidate-driven labour market.

He said: “A shortage of qualified professionals and a growing demand from our clients is combining to drive growth.

“Investment continues in training and in driving new services and systems across our offices worldwide,” he added.

“We are increasingly flexing the power of our global network to the advantage of a growing number of multinationals with whom we are a supplier of choice.”