News blog

Networkers International

  • BY: Andrew Hore |
  • POSTED: 21/01/2009 |

Telecoms and IT staff provider Networkers International says that it will meet market expectations for its 2008 figures.

House broker Seymour Pierce expects profits to improve from £5.1m to £5.6m on revenues 4% lower at £171m in 2008. The broker expects revenues to continue to decline this year plus a fall in profits to £4m.

Networkers is noticing some weakness in permanent placements and its temporary IT staffing business. Permanent business is higher margin and accounts for 15% of net fee income. International telecoms and public sector business should continue to grow.

Seymour Pierce estimates that net debt was £16.2m at the end of 2008. Gearing is 131%. The interest cover is forecast to be more than three times in 2009.

At 6.5p a share, Networkers is valued at £5.99m. The shares are trading on two times 2008 earnings, rising to nearly three times prospective earnings in 2009. 

© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds