5th Mar 2015 09:35
LONDON (Alliance News) - Recruitment company Empresaria Group PLC on Thursday said it has doubled its dividend for 2014 as its pretax profit increased despite its revenue being pulled back by sterling strength.
Empresaria said its pretax profit rose to GBP5.9 million from GBP4.9 million. Revenue came down to GBP187.9 million from GBP194.4 million dragged lower by sterling strength, with constant currency revenue increasing 2%.
The fall in revenue was offset by an improvement in its gross margin to 23.8% from 21.9% a year earlier, boosted by a 7% rise in permanent recruitment and a better margin in its temporary business, even as temporary revenue fell by 4%.
The profit rise pushed the company to double its final dividend to 0.7 pence per share from 0.35 pence in 2013, both of which represent the company's full-year dividend as it doesn't pay an interim dividend.
"2014 has been a strong year for the group with robust profit growth and a number of strategic milestones achieved. Following our brand led strategy, we have continued to invest in our existing businesses, opening several new offices worldwide, and have seen particularly positive results in Germany, India, Japan, Thailand and Australia," said Chief Executive Joost Kreulen.
"We believe that market conditions are favourable and we look forward to growing our business further and creating value for our shareholders," Kreulen added.
Empresaria shares were up 4.6% to 50.8 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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