AGM Statement

5 Jul 2007 07:00

Empresaria Group PLC05 July 2007 Empresaria Group plc - AGM Statement 5th July 2007 At today's Annual General Meeting of Empresaria Group plc ("Empresaria" or "theGroup"), an international specialist staffing group, the Board will make thefollowing statement: The Group has enjoyed a good first five months trading and the Board isconfident about meeting its full year expectations. As in previous years, theGroup is expected to generate the majority of its profits in the second half ofthe year due to the seasonality of a number of the Group's businesses and inline with industry trends. Germany The Group recently acquired Headway Holdings Gmbh. This acquisition has beenintegrated rapidly into the Group's decentralised structure and has performedstrongly. In response to these positive initial signs, combined with continuedstrong demand for Headway's services, the Group has agreed to accelerate thedevelopment of new branches. Since the start of the year nineteen branches havebeen established, five of which have been post-acquisition. This rapid expansionis set to continue with at least five branches expected to be added over thecoming months, taking the total to over 70 branches. A more detailed overview ofHeadway's performance will be given with the release of the interim results inSeptember. South East Asia Empresaria today announces a number of developments in its operations in SouthEast Asia. The Group has acquired a 51% stake in PT Learning ResourcesIndonesia ("PT Learning") for a consideration of US$127,000. PT Learning is anestablished training company specialising in leadership and personaldevelopment, customer service and sales training to the banking andtelecommunications industries. This acquisition strengthens Empresaria'spresence in the region by increasing the Group's operations to three companiesand five branches in Indonesia. In addition to PT Learning, Monroe Consultingprovides executive recruitment services to the local market and Advanced CareerIndonesia provides HR Outsourcing solutions to the Indonesian financial servicessector. The Group has also invested in two new companies, both operating under theMonroe brand. The first is Monroe Consulting Group Pte Ltd in Singapore and thesecond is Monroe Consulting Philippines Inc. In each case the new companies arepart owned by local, experienced management teams. Both companies will focus onexecutive recruitment. Other Markets Established operations in the UK and Japan continue to perform well and in linewith expectations. The Group continues to focus on the development of its overseas operations togain access to high growth international markets and to create a stableoperating base to manage economic and market fluctuations thereby reducing theGroup's dependence and exposure to any one country. Through sector andgeographic diversification the Group continues its progress in developing abroadly based international specialist staffing company. Group management development The Group today announces that Nick Hall-Palmer, Group Finance Director, is tomove to the role of Group Development Director once a new Group Finance Directorhas been appointed. This change in role reflects the increase in breadth andscope of group operations and recognises the broader commercial role that Nickhas been undertaking since joining Empresaria in 2000. For further enquiries please contact: Empresaria Group Plc 01293 649 900Tony Martin (Chairman)Miles Hunt (Chief Executive)Nick Hall-Palmer (Finance Director) Bridgewell LimitedJames Wellesley-Wesley 020 7003 3000 Notes for editors: Empresaria Group plc is an international specialist staffing group built on aphilosophy of management equity. Empresaria was formed in 1996 by Miles Hunt. Its business model allows foundermanagers and key staff within Empresaria's subsidiaries to acquire or retain ameaningful stake in the businesses they run or work in. Group strategy is to develop an international specialist staffing group balancedacross sectors, geographies and operations. It currently operates in 18countries with over 130 branches. This information is provided by RNS The company news service from the London Stock Exchange