FINANCIALS: Networkers in line with expectations with permanent boost
18 July 2013
Professional and technical staffing company Networkers International says sector diversification and growth in its permanent business have benefitted the group, even as net fee income (NFI) for the first six months of 2013 shrunk.
Thu, 18 Jul 2013Professional and technical staffing company Networkers International says sector diversification and growth in its permanent business have benefitted the group, even as net fee income (NFI) for the first six months of 2013 shrunk.
In a trading update, the firm notes that it would expect to report in its 19 September interim results for the period a reduction of around 8% in NFI. But the group says this is “against a strong comparative period last year” and that it has “reduced overheads to offset the majority of this reduction”.
Chief executive officer Spencer Manuel comments: “Overall, I am pleased with the progress made during the period, particularly in increasing our permanent placement revenue stream which now accounts for over 25% of our net fee income.”
Permanent recruitment had made up just over 20% of NFI across 2012.
Meanwhile, the group’s energy and engineering division has “performed especially well” and is now responsible for 11% of group NFI, up from 6% in 2012.
Manuel adds that “the overall telecoms market remains unchanged from when we reported back in April”.
In a trading update, the firm notes that it would expect to report in its 19 September interim results for the period a reduction of around 8% in NFI. But the group says this is “against a strong comparative period last year” and that it has “reduced overheads to offset the majority of this reduction”.
Chief executive officer Spencer Manuel comments: “Overall, I am pleased with the progress made during the period, particularly in increasing our permanent placement revenue stream which now accounts for over 25% of our net fee income.”
Permanent recruitment had made up just over 20% of NFI across 2012.
Meanwhile, the group’s energy and engineering division has “performed especially well” and is now responsible for 11% of group NFI, up from 6% in 2012.
Manuel adds that “the overall telecoms market remains unchanged from when we reported back in April”.
- Click for more news on IT and telecoms recruitment from Recruiter
