(Alliance News) - Empresaria Group PLC on Wednesday outlined its plans to streamline its operations, ahead of its full-year results release on March 27.
The Crawley, England-based specialist staffing company said it plans to exit from operations that are not aligned with its strategy of "sharpening" its focus on "core sector operations in the UK and the US while continuing to develop our other two pillars for growth".
As a result, the "more cohesive" group will now consist only of core operations in the UK (IT and Professional), core operations in the US (IT, Professional and Healthcare), and offshore services based in India.
Shares in Empresaria closed up 7.4% at 28.46 pence in London on Wednesday afternoon. The stock has fallen 22% over the last twelve months.
The move follows Empresaria's exit from small individual operations in Finland, China, Australia, Japan and the UK in 2024, "all of which operated in sub-sectors or markets where we did not plan to invest", the firm said.
"This strategy enables us to scale our businesses more efficiently and effectively," explained Empresaria. "The UK and the US are two of the world's largest staffing markets and provide significant opportunities for growth, cross-selling, diversification and operational synergies. With a strong presence and proven track record in these markets, we can better leverage client relationships, shared efficiencies, and sector expertise."
The exits are expected to take up to two years, and the group expects to have eliminated its net debt position upon completion of the exits. This will enable a "significant" reduction in Empresaria's overheads.
The new strategy "represents a significant transformation of the group which we believe will help us to drive scale in these areas, improve the group's financial position and enhance value for our shareholders," said the firm.
Empresaria will provide updates on its progress "in the normal course of reporting".
By Emily Parsons, Alliance News reporter
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Empresaria Group (EMR)
