Networkers International sees increase in demand

Tue, 16 Mar 2010

Networkers International is witnessing an increase in demand in its major revenue streams, according to a trading update for the year ended 31 December 2009.

The recruiter operates in the IT & telecoms, finance, public sector, sales & marketing, engineering, supply chain, HR and renewable energy sectors.

The statement says that the group’s foothold in international markets (now approaching 60% of net fee income) ensured that it performed strongly and profitably despite the economic downturn, with the firm improving its gross margin percentages. The firm adds that it was highly cash generative in the period.

The statement adds: “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.  While the directors welcome this apparent improvement in market conditions, it is too early to determine whether this pace of recovery will be sustainable.”

Networkers International will be announce preliminary results for the year ended 31 December 2009 on 12 April.