Empresaria Group Regulatory News (EMR)

19 Feb 2007 07:01

Empresaria Group PLC19 February 2007 Empresaria Group plc - Trading Update Empresaria Group plc ("Empresaria" or the "Group") Ahead of entering its closed period, Empresaria provides the following tradingupdate. Highlights • Strong growth in revenues for 2006 • Good final quarter performance in the UK and Japan • Revenues higher than expected in January Group Chief Executive, Miles Hunt, commented "The good performance of the Group at the end of 2006 and strong start to thecurrent year sets the scene for a promising result in our existing operationsfor the remainder of the year. The establishment of a new company in Malaysiademonstrates our continuing commitment to expansion in growing internationalmarkets, both by investment in start up businesses and through acquisition. Wewill remain alert for similar opportunities elsewhere." 2006 Trading Commentary The Group continued to enjoy buoyant trading in the final half of the year. Thisreflected higher revenues in its UK operations, especially in the Group'sConstruction and Other Brands sectors, and continuing robust revenue growth inits Japanese operations. In addition, in the last quarter of 2006, theacquisition of the ITC businesses in Poland contributed further to revenuegrowth. Revenue for the year ended 31 December was approximately £75 million and net feeincome approximately £22 million. The Board expects profits for the year ended31 December 2006 to be in line with current market expectations. International expansion continues - new start up in Malaysia As previously announced, the Group established its first operation in Malaysiain December 2006 in line with its core strategy of establishing an internationalspread of businesses in both the permanent and temporary staffing sectors. TheSouth East Asian region is currently experiencing high growth and offersconsiderable opportunities for the Group, which is now operating in more than adozen countries in Europe, Asia, Australasia and North America. The new Malaysian operation is run by local management, in keeping with theGroup's philosophy of management equity, with founder managers and key staffholding significant equity stakes. The company has made a positive start. 2007 Outlook The strong performance at the end of 2006 has been carried into 2007 and tradingin January is ahead of the Board's expectations, with revenues higher in boththe UK, especially in Financial Services, Construction and Other Brands, andoverseas, with Japan and our South East Asian businesses performing particularlywell. This information is provided by RNS The company news service from the London Stock Exchange