Networkers International PLC Shares Up 7%
Networkers International plc, the AIM listed recruitment company, is pleased to announce the following:
Notice of Results
Networkers International Plc will be announcing its preliminary results for the year ended 31 December 2009 on Monday 12 April 2010.
Based on the unaudited figures for the year to 31 December 2009, the Directors anticipate that profit for the year will meet current market expectations.
Whilst 2009 was a difficult year for the staffing sector in general, particularly in the UK, Networkers' exposure to international markets (now approaching 60% of net fee income) has meant that it performed strongly and profitably despite the economic downturn. In addition, the Company has improved its gross margin percentages and been highly cash generative.
During the second half of 2009, the Company saw a stabilisation in net fee income (gross profit) and, moving into 2010, has started to see an upturn in demand in all its major revenue streams. Whilst the directors welcome this apparent improvement in market conditions, it is too early to determine whether this pace of recovery will be sustainable.