LONDON (Alliance News) - Empresaria Group PLC on Thursday said it expects to report profitability ahead of market expectations for 2015, despite currency woes largely due to the weakness of the euro.
The specialist staffing company said it expects adjusted pretax profit growth of about 23% year on year, with net fee income about 10% ahead of the prior year.
Net debt is expected to shrink by 26% to GBP7.3 million in 2015 from GBP9.8 million in 2014, including a term loan agreed in October to help fund the purchase of Pharmaceutical Strategies in the US. Chief Executive Joost Kreulen said the group is pleased with "how quickly" the acquisition has been integrated.
"During the year we have invested in new staff, launched a second brand in the Middle East and successfully developed the new office openings and investments made in 2014. We have also continued our strategy of devolving low margin industrial contracts," Kreulen said.
"There were notable positive performances in Australia, Thailand and in some sectors in the UK. We are particularly pleased with our performance in Germany and India during the year, with our offshore recruitment services business in India significantly increasing profits against the prior year and opening a third centre ahead of original plans, due to increased demand, with good possibilities for further growth in the year ahead," Kreulen added.
The company will report earnings on March 2.
Shares in Empresaria were up 4.4% at 87.70 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Empresaria Group (EMR)