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Networkers revenue slips 8.2%

April 06 2009

Networkers International PLC, a United Kingdom-based staffing firm with operations in the U.S., reported today that full-year 2008 revenue fell 8.2% year-over-year to GBP163.4 million (US$236.6 million).

Gross margin, however, improved to 15.9% in 2008 from 13.7% in the previous year.

Networkers reported its Americas revenue rose 48.1% year-over-year to GBP6.8 million (US$9.8 million) from GBP4.6 million in 2007. It opened a new office in Mexico in 2008. According to its Web site, the company also has U.S. offices in Los Angeles and Dallas.

The company also opened new offices in South Africa and Malaysia in 2008.

It reported profit for the period of GBP3.5 million (US$5.0 million), up 19.3% from GBP2.9 million in 2007.

Networkers is taking a cautious outlook for 2009. "There is no doubt that the coming year will prove to be very challenging for anyone in the staffing sector, especially those with a significant exposure to the U.K. economy," the company reported.

Networkers provides staffing in telecommunications, information technology, finance/accounting, engineering and other areas.

Networkers International PLC
For the full year ended Dec. 31, 2008, compared with the previous year.
Revenue: GBP163.4 million (US$236.6 million), -8.2%
Net income: GBP3.5 million (US$5.0 million), +19.3%

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