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Networkers International has received a BUY recommendation

Networkers International has received a BUY recommendation from Seymour Pierce following its positive update.
Highlights from the Seymour Pierce Note.
Networkers has so far held up well due to its niche global telecoms and IT operations
Networkers will meet 2008 expectations
Seymour Pierce expect that FY2008 pre-tax profits before goodwill amortisation and share-based payments to increase by 10% to 5.6m and adjusted EPS to be up by 11.7% to 3.88p.
Net debt is expected to be below the 17.04m reported at the interim stage
Networkers has injected a note of caution into prospects for the current year.
Due to some weakness in permanent placements Seymour Pierce has reduced its FY2009 pre-tax estimate from 6.0m to 4.0m and EPS from 4.10p to 2.72p.

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