Technical recruiter Networkers International’s pre-tax profits for the year-ending 31 December 2008 increased by 20.3%, to £5.57m (2007: £4.63m).

Spencer Manuel, chief executive officer of Networkers International, says: “In 2007 we made a strategic decision to focus our efforts on improving and diversifying our sales mix and to continue to deliver solid international expansion.

“These 2008 results indicate the success of this strategy and we have achieved significant improvements to our gross profit margin percentages with almost half of the group’s net fee income now being derived from international placements.”

The company is increasing its focus on international business. According to the results the percentage of turnover from international business increased to 46% in the second half of the year, from 35% in 2007.

The company has also opened new offices in Mexico, South Africa and Malaysia.

Jon Plassard, chief financial officer of Networkers International, told Recruiter: “We are focusing on bedding in the offices we have already opened, but we are also looking to open new offices in other emerging markets - we expect their will be additional offerings during 2009.”

When asked if the company was facing competition from other listed recruiters who have increased their international presence (IT recruiters look overseas to buoy up their business, Recruiter, 1 April), Plassard said the company is only coming up against “smaller, unquoted, niche players”, rather than listed recruiters.

Total net borrowings decreased by 40% to £10.9m (2007:£18.3m).