Global recruiter Networkers International has seen profits rise, according to interim results for the six months ended 30 June 2011.

The group’s results reveal:

· Adjusted* pre-tax profits for the period up by 29.3% to £3.00m (2010: £2.32m)

· Pre-tax profits up by 37.2% to £2.87m (2010: £2.10m)

· Net fee income (gross profit) up by 12.7% to £13.61m (2010: £12.08m)

· Contract net fee income has shown growth of 15.2% in the period, with permanent placements showing growth of 1.7%. Permanent placements represent 16.8% of net fee income

 *adjusted for the add back of amortisation of intangible assets arising on business combinations.

Chief executive Spencer Manuel says: “I am pleased to report another strong performance for the first half of 2011 with pre-tax profits up by 37% on the same period last year.

“The impressive growth in profits can be attributed to the Group’s continued strategy of international expansion within our core telecoms, energy and specialist IT markets. We now derive two-thirds of our net fee income from international placements.

“Looking ahead, we anticipate increasing headcount both within our existing office network as well as establishing new offices in high growth, international markets. We continue to look for earnings enhancing acquisitions within our core sectors that will increase our scale and geographical reach.”