Last checked at 23 Jan 2014 07:00
Empresaria Group plc
("Empresaria" or the "Group")
Trading Update and Notice of Results
23 January 2014
Empresaria, the international specialist staffing group, today issues a trading update for the financial year ended 31 December 2013, ahead of announcing its final results on Tuesday 11 March 2014.
The Board is pleased to confirm that full year profitability will be in line with market expectations. The Board expects adjusted profit before tax growth of approximately 17% year on year, with net fee income marginally below 2012 levels. We also expect to see a reduction in reported net debt of approximately 25% against the prior year.
Joost Kreulen, Chief Executive of Empresaria, said:
"We are encouraged by the progress of the Group, with underlying profit growth from all of our reporting regions. We are particularly pleased with the performances in Chile and Singapore, where losses in 2012 have been turned into profits in 2013.
The restructuring of operating units in Germany has been completed and no new worker claims can arise for retrospective pay, as they are now time barred. The business in Germany has been stabilised, is yielding an increase in underlying profitability and is now in a position to benefit from the improving economic conditions in the region.
We are looking at selective investment opportunities to expand the geographic reach of our operations either by way of investment in existing brands or the acquisition of complementary brands and expect to see continued organic growth from our existing businesses."
For further information contact:
Empresaria Group plcJoost Kreulen, Chief ExecutiveSpencer Wreford, Group Finance Director | 01342 711 430 |
Shore CapitalBidhi Bhoma / Edward Mansfield | 020 7408 4090 |
Notes for editors:
About Empresaria
· Empresaria Group plc (AIM: EMR; Sector: Support Services, Staffing) operates in 18 countries with over 800 internal staff and has a strong focus on the development of emerging markets and speciality niche staffing sectors.
· Empresaria Group plc applies a management equity philosophy and business model, with group company management teams holding significant equity in their own business.