Advertising and marketing firm TMP Worldwide reported a third quarter profit rise of 35% due to growth at its subsidiary Monster.com, the online job search web site.

The company reported a profit of $39.6m excluding merger and integration charges, in line with analysts forecasts, compared with $29.1m in the same quarter last year.

Monster.com announced earlier on Monday that it had been named the "premier provider of career content" for Microsoft's internet service.

TMP's total commissions and fees fell 5% to $361.2m, but income at its interactive division, which includes Monster.com, rose 38%, to $174.3m.

TMP announced on 1 November that it chief financial officer Bart Catalane had resigned and would be replaced by Monster.com president Bob O'Connell.

Weaker future

TMP president and chief operating officer Jim Treacy said in a statement the company had trimmed costs as revenues declined.

"We reduced expenses on an annual basis by $50m in the first half of this year and we have completed our plans to reduce expenses by an additional $60m in the fourth quarter 2001, ensuring that our costs are aligned with our lower revenue expectations for next year," Mr Treacy said.

TMP lower its forecasts for profits in 2002 as the economic slowdown in the US dampens the jobs and advertising markets.

TMP shares closed up 9.7% for the day on the Nasdaq index and continued to climb in after-hours trade.