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for the 6 month period to 30 June 2011

The Board of Networkers International Plc ('Networkers' or 'the Group'), the AIM-listed international recruitment company, is pleased to announce interim results for the six months ended 30 June 2011.

Financial Highlights

&middot Adjusted* pre-tax profits for the period up by 29.3% to &pound3.00m (2010: &pound2.32m)

&middot Pre-tax profits up by 37.2% to &pound2.87m (2010: &pound2.10m)

&middot Adjusted* earnings per share of 2.01p (2010: 1.61p)

&middot Net fee income (gross profit) up by 12.7% to &pound13.61m (2010: &pound12.08m)

&middot Contract net fee income has shown growth of 15.2% in the period, with permanent placements showing growth of 1.7%. Permanent placements represents 16.8% of net fee income

&middot Strong balance sheet with net assets of &pound17.9m and net current assets of &pound11.0m and

&middot Increase of 39% in the interim dividend resulting in a recommended interim dividend of 0.450p per share totalling &pound0.4m (2010: 0.324p per share totalling &pound0.3m).

Operational Highlights

&middot Share of net fee income derived from markets outside of the UK increased to 66% (2010: 62%) and we expect the share of overseas earnings to continue to increase during the second half of the year

&middot Good progress made within the Group's technology division in achieving growth through investing in specialist vertical markets

&middot Acquisition during May 2011 of the remaining 50% of the UAE joint venture shares, resulting in this becoming a 100% owned subsidiary and

&middot Group headcount increased organically by 11% in the six month period

Commenting on today's results, Spencer Manuel, CEO, said "I am pleased to report another strong performance for the first half of 2011 with pre tax profits up by 37% on the same period last year. The impressive growth in profits can be attributed to the Group's continued strategy of international expansion within our core telecoms, energy and specialist IT markets. We now derive two-thirds of our net fee income from international placements."

"Whilst we remain mindful of the economic uncertainties in some regions of the world, overall, conditions in the highly skilled sectors we operate in remain positive with strong demand from our international clients. Our markets within the UK (one-third of net fee income) remain somewhat subdued and this area of our business has shown only modest growth during the period. Looking ahead, we anticipate increasing headcount both within our existing office network as well as establishing new offices in high growth, international markets. We continue to look for earnings enhancing acquisitions within our core sectors that will increase our scale and geographical reach"

*adjusted for the add back of amortisation of intangible assets arising on business combinations.


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