Last checked at 25 Jul 2018 07:00
25 July 2018
Empresaria Group plc ("Empresaria" or the "Group")
Trading Update and Notice of Results
On course to deliver full year market expectations
Empresaria (AIM: EMR), the international specialist staffing group, is pleased to provide a trading update ahead of announcing its interim results on Wednesday 22 August 2018.
Empresaria remains on course to meet market expectations for the full year. For the first half, adjusted profit before tax is up approximately 2% and net fee income is down approximately 1% on the prior year. There were strong results in a number of businesses, particularly within the Americas region, offsetting the previously announced impact of regulatory changes in Germany and Japan. The Group's strategy of specialisation and diversification continues to lay the foundations for future profitable growth.
Empresaria's recent investment in Grupo Solimano in Peru strengthens the Group's presence in Latin America. The acquisition is funded by the operating cash flows of the Group and is expected to be neutral from an earnings perspective in the current financial year ending 31 December 2018 and earnings enhancing in the next financial year.
Spencer Wreford, CEO of Empresaria said:
"In line with our strategy, we will continue to invest in our existing brands and identify further potential external investments to complement and increase the reach of our network.
"The Group continues to work through the impact of regulatory changes in key markets and is well positioned to return those businesses to growth."
Enquiries:
Empresaria Group plcSpencer Wreford, Chief Executive OfficerTim Anderson, Group Finance Director | via Alma PR |
Arden Partners (Nominated Adviser and Broker)John Llewellyn-Lloyd / Steve Douglas / Ciaran Walsh | 020 7614 5900 |
Alma PR (Financial PR)Rebecca Sanders-Hewett / Sam Modlin | 020 8004 4217empresaria@almapr.com |
Notes for editors:
§ Empresaria Group plc is an international specialist staffing group with 19 brands operating in 21 countries across the globe including the UK, Germany, Japan, India, UAE, Indonesia, Chile, Australia, Thailand, Singapore, Finland, USA, New Zealand, China, Malaysia, Vietnam, the Philippines and Peru.
§ Empresaria offers temporary/contract and permanent staffing solutions as well as Offshore Recruitment Services in seven key sectors: Technical & Industrial, Aviation services, IT & Design, Professional services, Healthcare, Executive search and Retail.
§ Empresaria applies a multi brand, management equity philosophy and business model, with group company management teams holding significant equity in their own business.
§ Empresaria is listed on AIM under ticker EMR. For more information: empresaria.com