Notice of Results and Trading Update (8694A)
February 09 2011 - 2:00AM
UK Regulatory
TIDMNWKI
RNS Number : 8694A
Networkers International PLC
09 February 2011
09 February 2011
Networkers International plc ('Networkers International' or the
'Company')
Pre-Close Statement and Trading Update
Networkers International, the AIM quoted technical and
professional staffing company, today issues its pre-close statement
and updates the market on current trading.
Highlights
-- The Group expects profits to be above the top end range of
market expectations for the year ended 31 December 2010;
-- Net fee income (gross margin) for 2010 expected to increase
by approximately 15% compared to 2009, and approximately 25% when
compared with H2 2009;
-- The Group has continued to increase its proportion of
international business which now stands at 63% of net fee income
(2009: 56%);
-- Permanent placements rebounded strongly in 2010 being over
50% up on 2009 and now representing 19% of net fee income (2009:
14%);
-- Strong balance sheet, with net tangible assets of
approximately GBP11m; and
-- A re-focus within the Group's technology division to achieve
growth through investing in specialist vertical markets.
Commenting on today's announcement, Spencer Manuel, CEO said
"2010 has been a successful year for the Group with excellent
progress being made in implementing our strategy of International
expansion within our specialist recruitment markets of
Telecommunications, IT, Energy, Finance and Capital Markets. We
finished 2010 strongly and we have continued this momentum going
into 2011. We believe we are well positioned for further growth in
the current year."
The company expects to announce its preliminary results on 11
April 2011.
Enquiries:
Networkers International 020 8315 9000
Spencer Manuel, CEO
Jon Plassard, CFO
www.networkersplc.com
Seymour Pierce Limited 020 7107 8000
John Cowie (Nominated adviser)
Leti McManus / Jacqui Briscoe (Corporate broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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