Networkers International has announced that “despite difficult economic conditions” it expects pre-tax profit profits to be in line with market expectations.

In its pre-close trading update, for the year ending 31 December 2008, the AIM listed IT and telecoms recruiter says that “it is confident that the company has a robust, sustainable and well diversified business model which will enable it to operate successfully within the current climate”.

It points to the diversity of Networkers’ business, both by sector and geography, and to it not being “overly reliant upon any one market”.

The company’s broker Seymour Pierce says it expects pre-tax profits before goodwill, amortisation and share-based payments of £5.6m for the full year.

Spencer Manuel, Networkers’ chief executive, comments: “I am pleased with the outcome for 2008 but remain mindful of the uncertain conditions ahead. Together with many of our peers in the staffing sector, we are experiencing a slowdown in business in certain areas, particularly permanent placements within the UK, which accounts for around 15% of our net fee income.”