Results for the year ended 31 December 2016

Empresaria Group plc ("Empresaria" or the "Group")

Results for the year ended 31 December 2016

Strong growth in profit before tax and adjusted earnings per share

Empresaria, the international specialist staffing group, has continued to deliver on its strategy with record profit before tax and growth in adjusted earnings per share.

Financial Highlights

2016

2015

% change

% change (constant currency)

Revenue

£270.4m

£187.3m

44%

33%

Net fee income

£59.0m

£49.2m

20%

10%

Operating profit

£8.5m

£7.6m

12%

3%

Adjusted operating profit*

£9.8m

£8.0m

23%

11%

Profit before tax

£7.9m

£7.1m

11%

0%

Adjusted profit before tax*

£9.2m

£7.5m

23%

11%

Earnings per share (diluted)

9.3p

9.3p

-


Adjusted earnings per share*

11.3p

9.9p

14%


Final dividend

1.15p

1.0p

15%


· Fourteen consecutive quarters of net fee income growth

· Five consecutive years of double digit % growth in adjusted earnings per share

· Conversion ratio increased to 16.6% (2015: 16.3%)

· Proposed final dividend increased by 15% to 1.15p (2015: 1.0p)

· Net debt increased to £10.5m (2015: £7.3m) following the investments made in the period

· Strong profit growth in German business, IT sector in Japan and Executive search in South East Asia

· Successful integration of Pharmaceutical Strategies

· Investments in Rishworth Aviation and ConSol Partners: strong brands with significant growth potential

* adjusted to exclude amortisation of intangible assets, exceptional items, gain or loss on disposal of business and fair value charges on acquisition of non-controlling interests.

Chief Executive Joost Kreulen said:

"Empresaria has delivered another year of record profit and strong growth in adjusted earnings per share, demonstrating the strength of our diversified business model. We are focused on delivering on our strategy: strengthening a multi-branded group, with an emphasis on developing leading brands that are diversified and balanced by geography and sector.

Alongside the solid performances across a number of countries, we are particularly pleased to have secured two significant international investments during the year; Rishworth Aviation and ConSol Partners. Both brands operate in sectors with good long-term growth prospects and complement the Group's 'Invest & Develop' strategy. We look forward to the growth opportunities that these businesses have as part of the Group.

We continue to see exciting growth opportunities to develop our Group and deliver increased profits and we look to 2017 with confidence."

For the full announcement: empresaria.com/news/rns-information/849139

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