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19 Jan 2012 07:00
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Empresaria Group PLC
Trading Update
Empresaria Group plc ("Empresaria" or the "Group"), the international specialist staffing group, today issues a trading update for its financial year ended 31 December 2011, ahead of its results for that period which it expects to announce on 21 March 2012.
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The Board today confirms that full year trading is expected to be broadly in line with current market expectations.
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Chief Executive Joost Kreulen said:
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"After a disappointing first half result, the Group saw an improved second half performance across all regions, despite more challenging trading conditions in Europe in the last quarter of the year. The Rest of World region delivered stronger second half profits than in the prior year, even after the costs of investing in new offices in Asia. In Germany, margins improved as a result of price increases and cost reduction measures.
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The potential claims for retrospective pay and social security contributions in Germany are still subject to ongoing court proceedings. The social security department has started to audit our branch network in Germany and we hope to update the market when we present our full year results in March.
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The global economic conditions remain uncertain, however, we still see opportunities for organic growth, in particular in the emerging markets"
For further information contact:
Empresaria Group plc Joost Kreulen, Chief Executive Spencer Wreford, Group Finance Director
| 01342 711430 |
Altium (Nominated Adviser) Tim Richardson
| 0207 484 4040 |
Allenby Capital Limited (Broker) Nick Naylor Nick Athanas | 0203 328 5656 |
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