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UK – 2012 a success for Networkers International

14 January 2013

IT recruiter Networkers International (NWKI:LSE) said that trading for 2013 will be “broadly similar” to last year with the firm  expecting pre-tax profits for the 2012 financial year to be in line with board expectations, the company reported on Monday.

Networkers is one of the 15-largest IT staffing firms in Europe and competes with rivals such as Adecco, Hays and Alexander Mann, the latest research by Staffing Industry Analysts has found.

In a trading update today, the company said that record levels of net fee income (NFI) will be maintained for 2012. In the period, permanent recruitment saw net fees rise while contract recruitment posted a drop of -3.6%.

Although based in the UK, the firm has a strong international presence, deriving over 70% of NFI from abroad.

The firm said it will make an exceptional provision of £1 million for the 2012 financial year to cover for all eventualities following a litigation case in the US.

CEO Spencer Manuel said 2012 had been a successful year. This is despite softening market conditions in the firm’s mobile telecoms division, which represents over half of NFI.

“Specialist IT in the UK (26% of NFI) has shown modest growth throughout 2012 and our international IT division (7% of NFI) has performed very well. We anticipate this trend continuing throughout 2013,” said Mr Manuel.

“Energy & Engineering (6% of NFI) has performed well across the world in 2012 and we believe the group is well positioned geographically to continue to build upon this success during 2013.”

Last year, Networkers International reported a strong balance sheet after sales rose by over +4% in the first half of the year. The company provides recruitment services through its core divisions of information technology and telecommunications.

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