Empresaria Group Regulatory News (EMR)

9 Jun 2005 16:45

Empresaria Group PLC09 June 2005 9th June 2005 Empresaria Group plc ("Empresaria" or the "Group") held its Annual GeneralMeeting of the Group at 12.30pm today at which all of the resolutions set out inthe Notice of the meeting were passed. Empresaria also provided the followingupdate: Trading in the first five months of the financial year has been in line with theBoard's expectations and the Board is confident about meeting investors'expectations of the Group's growth this year. As in previous years, the Groupis expected to generate the majority of its profits in the second half of theyear as a result of a combination of the seasonality of a number of the Group'sbusinesses and the impact of investment start up losses incurred in the firsthalf. The Group continues to focus on the development of its overseas operations togain access to high growth international markets and to increase the defensivecharacteristics of the Group through sector and geographical diversification,with the overall objective of developing over time a broadly spreadinternational specialist staffing company. To allow the Group greater financialflexibility to take advantage of potential identified opportunities it hasgained agreement from HSBC to provide a further facility of up to £4million interm loans to fund the Group's development through acquisitions and start-ups.Increases in the Group's working capital requirements arising from organicgrowth will continue to be funded through the Group's flexible InvoiceDiscounting facility and its overdraft facility of £1.25million, which iscurrently unutilised. Enquiries: Empresaria 01293 649 900 Miles HuntNick Hall-Palmer This information is provided by RNS The company news service from the London Stock Exchange