News

Networkers Int'l profit rises 28%

15 September 2008 07:31:00

Aim listed technology recruitment firm Networkers International delivered a 27.8% rise in half year profit after a robust performance from its international business.

Pre-tax profit rose to £2.9m for the six months to 30 June 2008 from £2.3m before. Revenue increased to £83.1m from £87.8m previously.

Networkers, which has opened offices in Malaysia and Mexico during the past six months, said it will keep its focus on international expansion. Over 41% of its net fee income has come from placements outside of the UK.

International business has increased from 34% to 41% as it increases its exposure to emerging markets in Africa, Middle East, Asia Pacific and Latin America. These emerging markets now represent 56% of our international income, it said.

Within the UK it is focusing on higher margin activities, it added.

Looking ahead Networkers sees current trading remaining in line with results achieved in the first half.

"Our UK contracting business remains stable and our international business continues to show solid growth. We remain mindful of the slowing UK economy," the group noted.

"We are well placed within our markets and geographically well diversified to enable us to weather a UK slowdown."

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