3rd Sep 2015 06:57
LONDON (Alliance News) - Empresaria Group PLC on Thursday said it expects its results for 2015 as a whole to be ahead of current market expectations, even though the AIM-listed staffing company is being stung by unfavourable currency movements in Continental Europe, Japan and Chile that will hurt its performance in the second half.
"Despite increasing currency headwinds, market conditions are generally favourable and we see further opportunities to grow our business over the coming years," Chief Executive Joost Kreulen said in a statement.
The guidance came as Empresaria said it made a GBP2.7 million pretax profit in the six months to June 30, compared with GBP2.0 million in the corresponding half the prior year. Revenue fell 2% to GBP92.4 million in the half, and at constant currency would have increased by 3%. Net fee income improved to GBP24.1 million from GBP21.6 million, an indicator of improved margins, and was bolstered by growth in permanent revenue.
"The group has delivered strong results for the first half of the year having continued to deliver on its stated strategy: strengthening a multi-branded group with a focus on developing leading brands that are diversified and balanced by geography and sector. We continue to improve the quality of the group's revenue, which although not showing overall growth at present will continue to drive improvements in profitability," Kreulen said.
Empresaria declares dividends at the end of the year, so will not pay an interim dividend.
By Samuel Agini; [email protected]; @samuelagini
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