Empresaria Group PLC Trading Update and Notice of Results (8170N)
23 January 2019 - 6:00PM
UK Regulatory
TIDMEMR
RNS Number : 8170N
Empresaria Group PLC
23 January 2019
23 January 2019
Empresaria Group plc ("Empresaria" or the "Group")
Trading Update and Notice of Results
Profit growth in line with market expectations
Investments in Group resources made to drive value
Empresaria (AIM: EMR), the international specialist staffing
group, today announces a trading update for the financial year
ended 31 December 2018, ahead of announcing its final results on
Wednesday 13 March 2019.
The Board is pleased to advise that the Group has delivered
profit in line with current market expectations for the financial
year ended 31 December 2018. The Group is expected to deliver a 4%
increase in both net fee income and adjusted profit before tax
against the prior year. This profit represents another historic
high level for the Group. Due to the mix of profit across brands
with different non-controlling interests, diluted adjusted earnings
per share is now expected to be slightly lower than the prior
year.
There was a growth in profit over the prior year in three of our
four regions, the UK, Asia Pacific and Americas, with notably
strong performances from IMS (Offshore Recruitment Services),
Alternattiva (outsourcing, perm and temporary business in Chile),
LMA (professional services), ConSol Partners (IT) and Rishworth
(Aviation). This helped offset the expected weaker results from
Headway (technical & industrial) and Skillhouse (IT) due to the
previously highlighted changes to temporary worker legislation in
Germany and Japan. With these legislation changes now in place, our
businesses in these countries are now focused on rebuilding their
temporary worker levels during 2019.
In July 2018 we finalised our investment in Grupo Solimano, a
provider of outsourced and temporary staffing services in Peru. We
are pleased with its performance since joining the Group, which has
been in line with our expectations.
Spencer Wreford, Chief Executive Officer of Empresaria,
said:
"This result again demonstrates the benefit of Empresaria's
diversified business model, delivering another year of profitable
growth, despite regulatory challenges in two of our key markets. We
are focused on delivering organic growth and in line with this we
are pleased to have launched a new brand, 4ward Talent, at the end
of last year to focus on the volume IT sector as well as new office
openings this month in Brisbane, Australia and Auckland, New
Zealand for Become recruitment in the creative, digital and
marketing sectors.
"We are investing approximately GBP0.5m in 2019 to strengthen
our central management team, including the appointment of Rhona
Driggs as Chief Operating Officer in November 2018. This will
enable us to increase the support to our brands in the key areas of
business development, technology, training and marketing to drive
incremental value as part of our strategy to build leading brands
in niche sectors. We have a clear vision to be a leading,
international, specialist staffing Group, and are confident we have
a plan in place to deliver on this."
Enquiries:
Empresaria Group plc via Alma
Spencer Wreford, Chief Executive Officer
Tim Anderson, Group Finance Director
Arden Partners (Nominated Adviser and Broker)
John Llewellyn-Lloyd / Ciaran Walsh 020 7614 5900
Alma PR (Financial PR) 020 3405 0205
Rebecca Sanders-Hewett empresaria@almapr.com
Sam Modlin
Hilary Buchanan
Notes for editors:
-- Empresaria Group plc is an international specialist staffing
group with 20 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
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END
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