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Networkers International plc issues Pre-Close Statement and Trading Update

Networkers International plc issues 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 11m 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."

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