Gay Haines, the chairman of the marketing recruitment firm Hat Pin, has promised to invest in the company after interim results revealed it has returned to profitability.

In the six month period ended 30 June, Hat Pin made pre-tax profits of £151,000. The firm had lost £202,000 in the year to December 2002.

Haines attributed the company's success to hard work and subsidiary Kendall Tarrant's predominance in the communications recruitment sector.

She was bullish about Hat Pin's future prospects: "The improved trading performance has given us the confidence to invest in new people and develop new areas."

"We have come through the worst advertising recession in living memory stronger and more confident. The tide appears to be turning."