Networkers Trading Update
Networkers International plc, the AIM listed recruitment company, has announced the following statement ahead of its close period.
Based on the unaudited figures for the year to 31 December 2008, the Directors anticipate that pre-tax profit for the year will be in line with current market expectations.
The Board remains mindful of the difficult economic conditions. Nevertheless it is confident that the Company has a robust, sustainable and well diversified business model which will enable it to operate successfully within the current climate. Networkers business is diverse by sector and geography which will ensure that the Company is not overly reliant upon any one market.
Networkers' CEO, Spencer Manuel, commented:
"I am pleased with the outcome for 2008 but remain mindful of the uncertain conditions ahead. Together with many of our peers in the staffing sector, we are experiencing a slowdown in business in certain areas, particularly permanent placements within the UK, which accounts for approximately 15% of our net fee income. We continue to plan for modest growth in our public sector and international telecommunications business, which together represents approximately 40% of our net fee income. We have built a strong business which continues to trade profitably and the Board continues to view the future of the Company with confidence."