22nd Aug 2018 08:50
LONDON (Alliance News) - Empresaria Group PLC on Wednesday expressed confidence in delivering future growth after profit rose in the first half of 2018.
The staffing company said pretax profit climbed 11% in the six months to the end of June to GBP3.9 million from GBP3.5 million reported for the same period a year earlier. Revenue rose 3% to GBP178.3 million from GBP173.4 million.
Empresaria said its administrative expenses were marginally lower year-on-year, down 1.7%, at GBP29.0 million compared to GBP29.5 million a year prior, while finance costs remained flat at GBP400,000.
During the period, the company said the number of staff increased by 107, driven by its offshore recruitment services business in the Asia Pacific region. However, the staff productivity reduced slightly to 1.67 from 1.69 the year before. As a result, the company said it plans additional training activities.
Looking forward, Empresaria said it continues to seek an external investment opportunities to deliver future growth.
In July, the company finalised its GBP2.1 million investment into Grupo Solimano in Peru, which is an established provider of outsourced and temporary staffing services in the Latin American Market.
"We are investing in our brands to drive growth and productivity improvements through new staff and technology solutions," said Chief Executive Spencer Wreford.
"The group is trading in line with market expectations and we have confidence in our prospects and ability to deliver growth," added Wreford.
The company is not recommending the payment of an interim dividend, in line with last year.
Shares in Empresaria were trading 1.7% higher on Wednesday morning at 88.00 pence each.
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