24 January 2018
Empresaria Group plc ("Empresaria" or the "Group")
Record profit, in line with market expectations
Empresaria (AIM: EMR), the international specialist staffing group, today announces a trading update for the financial year ended 31 December 2017, ahead of announcing its final results on Wednesday 14 March 2018.
The Board is pleased to advise that full year profitability will be in line with current market expectations. The Group is expected to deliver a record adjusted profit before tax, up approximately 20% year on year. We expect net fee income to be approximately 17% ahead of the prior year and diluted adjusted earnings per share up approximately 9% on the prior year.
There were strong performances in the UK within professional services and other services (domestic services and new house sales), in Japan in IT & design and in Chile in retail. The technical & industrial sector experienced a challenging year. The Group has worked to minimize the impact of changes to temporary worker legislation in Germany and the business in the Middle East has been resized resulting in an improved performance.
We are pleased with how well our recent investments have integrated into the Group, including an improved performance from our businesses in the USA in the second half. We continue to build on the strengths of our Group, investing in our existing brands and identifying further potential external investments.
Joost Kreulen, Chief Executive of Empresaria, said:
"Empresaria has demonstrated the benefit of its diversified business model, delivering another record profit in 2017. We are focused on delivering our strategy: strengthening a multi-branded group, with a focus on developing leading brands that are diversified and balanced by geography and sector."
Notes for editors:
· Empresaria Group plc is an international specialist staffing group with 18 brands operating in 20 countries across the globe including the UK, Germany, Japan, India, UAE, Indonesia, Chile, Australia, Thailand, Singapore, Finland, USA, New Zealand, China, Malaysia, Vietnam and the Philippines.
· 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 Empresaria group company management teams holding significant equity in their own business.
· Empresaria is listed on AIM under ticker EMR. For more information: empresaria.com