Third quarter net profits at Monster rose to  $42.7m (£26.2m) compared with $33.3m (£20.5m) for the same quarter last year.

Despite the global economic slowdown, revenue increased to $332m (£204m) compared with $330m (£202m) in the same period last year. The company said that the improved results reflected continuing international sales growth and its efforts to contain costs.

Monster added that it saw the current economic uncertainty as an opportunity to invest in its brand and to win market share.

Timothy Yates, executive vice president and chief financial officer of Monster, said: "During the quarter we reduced costs while aggressively investing in critical areas that will drive future growth. As a result, operating expenses were roughly flat with last year's levels while we strategically expanded our US sales force and substantially enhanced our customer service capability."
Technical recruiter Matchtech has also announced annual results for the year ended 31 July 2008. Turnover was £258.8m, up 28% on 2007, while net fee income increased by 23% to £33.2m. Operating profit and profit before tax both grew by 22% to £13.8m and £12.8m respectively.

George Materna, chairman at Matchtech, said: “Our clear defensive strategy of pursuing organic growth in our well established areas through working with our highly diversified client base is working and offers scope for further growth.
“While there will be competitive and market challenges ahead, we are well positioned, with the flexibility offered by our single site, to respond quickly and effectively to deterioration in market conditions.”

Elsewhere, multi-sector recruiter Hydrogen Group issued an update on trading for the year ending 31 December 2008.

Hydrogen said that due to further deterioration in the trading environment across financial services and in light of the current lack of visibility and an expectation of deteriorating trading the board anticipates that pre tax profits for the year to 31 December 2008 will be significantly below current market expectations.  

Meanwhile, media and publishing recruiter 1700 Group has said its results for the year to next March will miss current market estimates and plans to cut jobs
at its subsidiary Hamblyn due to a recruitment freeze by advertising companies.

The publishing sector has, however, not been adversely affected to the same extent, the company said in a statement.