23 January 2014
Empresaria Group plc ("Empresaria" or the "Group")
Trading Update and Notice of Results
Empresaria, the international specialist staffing group, today issues a trading update for the financial year ended 31 December 2013, ahead of announcing its final results on Tuesday 11 March 2014.
The Board is pleased to confirm that full year profitability will be in line with market expectations. The Board expects adjusted profit before tax growth of approximately 17% year on year, with net fee income marginally below 2012 levels. We also expect to see a reduction in reported net debt of approximately 25% against the prior year.
Joost Kreulen, Chief Executive of Empresaria, said:
"We are encouraged by the progress of the Group, with underlying profit growth from all of our reporting regions. We are particularly pleased with the performances in Chile and Singapore, where losses in 2012 have been turned into profits in 2013.
The restructuring of operating units in Germany has been completed and no new worker claims can arise for retrospective pay, as they are now time barred. The business in Germany has been stabilised, is yielding an increase in underlying profitability and is now in a position to benefit from the improving economic conditions in the region.
We are looking at selective investment opportunities to expand the geographic reach of our operations either by way of investment in existing brands or the acquisition of complementary brands and expect to see continued organic growth from our existing businesses."
For further information contact:
Empresaria Group plc
Joost Kreulen, Chief Executive
Spencer Wreford, Group Finance Director
01342 711 430
Bidhi Bhoma / Edward Mansfield
020 7408 4090