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Huge dividend boost for Networkers

RESULTS: Record profits and a 51 per cent dividend boost make shares in this speculative recruiter a value buy
April 13, 2012

Aim-quoted recruiter Networkers International announced record full-year profits and has rewarded shareholders with a 51 per cent dividend hike.

IC TIP: Buy at 42p

The majority of the growth last year was down to an exceptional performance from Networkers telecoms business (accounting for 59 per cent of fees) which reported a hefty £4.1m rise in net fee income (NFI) to £13.3m. This business accounted for two thirds of the £6m rise for the group as a whole - and most of that came from emerging markets of Africa, Asia and Latin America. Overseas income now accounts for 70 per cent of the total, up from 64 per cent in 2010. Strong demand for temporary workers drove a slight shift in the business mix with the split between contract and permanent placements ending the period at 82:18.

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