goldfinger
- 25 Sep 2006 10:50
Certainly worth further research. A very solid growth company in my eyes. Could take off over the coming months. Nigel Wrays latest 'little baby'.
NETWORKERS INTERNATIONAL PLC
('Networkers' or the 'Group')
Admitted to Aim earlier this year.
Networkers, is pleased to announce that following a reverse takeover of
Streetnames PLC, which was announced on 28 April 2006, the Group is now trading
on AIM under the new name of Networkers International PLC with the ticker
'NWKI'.
The consideration for the acquisition was 22 million, which was satisfied by
the issue of 84,615,377 consideration shares, issued at 26p per share following
a 20-for-one share consolidation The Group now has 92,115,377 ordinary shares in
issue.
Seymour Pierce is acting as the Nominated Adviser and Broker to Networkers
International.
The Group operates principally in the mobile telecommunications and technology
industry with over 85 per cent of its business in international mobile
telecommunications. The market for mobile telecommunications is growing rapidly
particularly in the emerging markets of Africa, Middle East, Asia and Latin
America
As part of its growth strategy, the Group has concentrated its resources in
emerging markets and as such 56 per cent of the Group's business is derived
from Africa, the Middle East, Asia and Latin America. In addition to emerging
markets, the Group is providing high level third generation ('3G') resources to
its clients in the developed markets of Europe and North America.
-ENDS-
Enquiries:
Networkers International 020 8658 1188
Spencer Manuel, Managing Director
www.networkersint.com
Seymour Pierce Limited 020 7107 8000
Sarah Wharry, Director
Bishopsgate Communications Ltd 020 7430 1600
Maxine Barnes
Scott Robertson
www.bishopsgatecommunications.com
Information on Networkers
Background
Networkers was founded in the UK in 2000 by Spencer Manuel, Jon Plassard and
Kevin Pope to exploit a niche in the provision of skilled mobile
telecommunications personnel to emerging regions of the world. The Group has
grown organically since its inception to a turnover of 21.8 million for the
year ended 31 May 2005. Networkers began trading in the UK in 2000 and in 2001
formed an associate company with a Saudi Arabian technical personnel provider.
In June 2004, the Group began trading in the US following the establishment of
its first US office, in California. The Group has since developed organically
into an international provider of technical resources.
Trading
During the year to 31 May 2005 profits grew to 2.6 million from 1.3 million
the previous year on sales of 21.8 million - up from 11.6 million in 2004.
Networkers' audited results for the six months to 30 November 2005 show a
profit before tax of 1.9 million from turnover of 18.7 million (six months to
30 November 2004 profit before tax of 1.5 million from turnover of
9.3 million). Due to the effect of seasonality, whereby contractor numbers
typically decline at 31 December and then build up again during the first half
of the year, profit is not evenly distributed throughout the financial year.
Strategy
Networkers International has a clearly defined strategy to deliver controlled
expansion through predominantly organic growth. The Board of Networkers has also
identified opportunities to accelerate growth whilst complementing the Group's
service capabilities and market reach through small bolt on acquisitions.
Networkers places skilled telecommunications engineers in various
countries throughout the world with telecoms vendors and operators including
Alcatel, Safaricom, Wataniya, Nortel Networks, Siemens, Ericsson and
Vodafone.
The Group has access to skilled contractors able to provide a wide
range of services from project management, design and implementation of
telephone exchanges and networks, billing and operations and maintenance.
It concentrates mainly on temporary contractor placements, typically ranging
in length from three to six months.
In addition to its core telecommunications contract placement business,
smaller element of the Group's business involves the placement of
specialist IT personnel into permanent and contract positions with the
Group's clients predominantly in Europe and the Middle East.
The IT contractors are principally engaged in the areas of enterprise
resource planning, billing, customer relationship management and converging
technologies in mobile data.
Due in part to the Group's provision of skilled expatriate labour to those
regions lacking in the necessary resource, the Group is able to command an
attractive margin on contracts in the emerging or developing regions in
which the Group is active.
The high demand for skilled resource means that a key component of the business
is the ability to attract skilled contractors. The Group has built up a good
reputation with candidates in the emerging markets and is well known to
international telecommunications engineers who apply to the Group directly. Its
business is focused in broad technical areas and the objective is to ensure the
Group's extensive candidate database is current and anticipates its clients'
technical requirements.
The Board
Neville Roger Goodman, aged 59, (Non Executive Chairman)
Roger is currently an executive director at MITIE Group plc. Roger joined
MITIE Group plc in June 1993 and was appointed to the Board in August 2001.
Prior to joining MITIE Group plc he was a director at Initial Limited and was
previously at HAT Group Limited.
Spencer Manuel aged 32, (Managing Director)
Currently Networkers' Managing Director, Spencer has worked in the
telecommunications recruitment industry for over nine years having previously
been Managing Director of another telecommunications recruitment company.
Spencer was part of the founding team at the Company and has assembled an
extremely professional and experienced sales and management team. Spencer leads
and directs the Group in developing, implementing and driving the Group's
international strategy. He represents the organisation to the financial
community, major customers, government agencies, Shareholders, and the public.
Jonathan Plassard, aged 35, (Finance Director)
Jon is a Chartered Accountant with significant experience of international
accounting and corporate finance gained with BDO Stoy Hayward. Jon heads up the
financial team in the UK and the finance managers in the international offices
report into him. Jon was part of the founding team at the Company and brings
considerable financial experience to the Board. He is integral to the global
growth aspirations of the Company through the financial control of the Group.
Kevin Pope, aged 34, (IT Sales Director)
Kevin has over 11 years' IT Recruitment experience. Kevin was part of the
founding team at the Company having first spent 6 years with Paragon IT
Recruitment Limited. Kevin has built up a sales team specialising in the
recruitment of enterprise resource planning and customer relationship management
professionals across SAP & the Oracle eBusiness Suite and in 'converging
technologies' of mobile data.
Nigel Wray, aged 57 (Non Executive Director)
Nigel Wray has been a prominent investor in the property and equity markets
since 1986. He has previously held directorships and significant shareholdings
in companies including Singer & Friedlander Group plc, Carlton Communications
plc and Burford Holdings plc. He was a non-executive director of People's Phone
Company plc, Skyepharma plc, Chorion plc and Urbium plc. He is currently a
non-executive director of a number of companies including The English Wines
Group plc, Healthcare Enterprise Group plc, The Greenhouse Fund Limited,
Play Holdings Limited, WILink pc and Domino's Pizza UK & IRL plc. He is a
director and major shareholder of the private investment group, Prestbury
Investment Holdings Limited and a partner in and member of the management board
of PIHL Equity LLP, a private equity business de-merged from Prestbury
Investment Holdings Limited in March 2006 and is also the Chairman and major
shareholder in Saracens Rugby Club.
William Astor, aged 54, (Non Executive Director). William is deputy chairman of
Chorion Plc, non executive director of the European Growth and Income Trust plc
and a number of other companies. He is an Opposition Spokesman in the House of
Lords. William was Parliamentary Under Secretary of State in the previous
Conservative administration.
DYOR.
cheers GF.
Morigam
- 20 Sep 2013 11:18
- 15 of 15
rather good interview with the CEO on the interim results on London South East
webcast