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Networkers International plc Trading Update

Networkers International plc  Trading Update

Networkers International has issued a trading update in respect of the six months ended 30 June 2012.

The Group has performed very well in the period with Net Fee Income (gross margin) for the six-month period expected to increase by approximately 17% when compared with the corresponding period last year. Cash generation during the six-month period has also been strong with net debt, which relates entirely to invoice discounting, expected to reduce by &pound2.8m to approximately &pound6.2m at the half year point.

The Group continues to expand internationally with staff numbers increasing to 376, an increase of 15% on the corresponding period last year with the growth in headcount arising primarily within its international offices.

Networkers continues to implement its strategy of investing in specialist areas within its key staffing sectors of telecommunications, IT and Energy & Engineering with a particular emphasis in emerging markets.

Commenting on today's announcement, Spencer Manuel, CEO said "The first half of 2012 has been another successful period for the Group on the back of a record year in 2011. We continue to invest in headcount, particularly within our international offices where over 42% of our headcount is now located. We are confident in the long term growth prospects of the key markets and sectors we operate in, particularly within the emerging markets of Africa, Asia and Latin America and we remain on target to achieve management expectations for the year."


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