Results for the year ended 31 December 2015

Empresaria, the international specialist staffing group, has continued to deliver on its strategy with record profit before tax and growth in earnings per share.

Financial Highlights

2015

2014

% change

% change (constant currency)

Revenue

£187.3m

£187.9m

(0.3%)

3%

Net fee income

£49.2m

£44.6m

10%

16%

Operating profit

£7.6m

£6.4m

19%

29%

Adjusted operating profit*

£8.0m

£6.6m

21%

30%

Profit before tax

£7.1m

£5.9m

20%

30%

Adjusted profit before tax*

£7.5m

£6.1m

23%

44%

Earnings per share (diluted)

9.3p

7.5p

24%

Adjusted earnings per share*

9.9p

8.0p

24%

Final dividend

1.0p

0.70p

43%

· Ten consecutive quarters of net fee income growth

· Conversion ratio increased to 16.3% (2014: 14.7%)

· Proposed final dividend increased by 43% to 1.0p (2014: 0.70p)

· 26% reduction in net debt to £7.3m (2014: £9.8m)

· Continued strength in Germany and Offshore Recruitment Services from India

· Investments made in 2014 successfully integrated into Group

· Purchase of Pharmaceutical Strategies in the USA

* adjusted to exclude amortisation of intangible assets, exceptional items and gain or loss on disposal of business

Chief Executive Joost Kreulen said:

“Announcing record profit levels and our largest investment for eight years is testament to the strength of our strategy of building a diversified group and developing leading brands. We have made good progress against this strategy, with net fee income growth across all of our regions and an improved conversion ratio, helping to reduce debt levels again, down below our target ratio of 25% ‘debt to debtors’.

Our purchase of Pharmaceutical Strategies (“PS”) opened up a new region in the USA, further diversifying the Group geographically and at the same time strengthening our presence in the healthcare sector, a high growth market sector with good long-term prospects.

In line with our brand led strategy we continued to invest in the business with average staff numbers up 16% year on year. We opened a second brand in the UAE. The investments made in 2014 have been successfully integrated into the Group and with the new office openings have contributed positively against the prior year.

We see exciting opportunities across the Group in spite of current global uncertainty, and are confident in our ability to deliver profitable growth.”

- Ends –

Enquiries:

Empresaria Group plc
Joost Kreulen, Chief Executive Officer
Spencer Wreford, Group Finance Director

via Redleaf Communications

Arden Partners (Nominated Adviser and Broker)
John Llewellyn-Lloyd / Steve Douglas / Ciaran Walsh

020 7614 5900

Redleaf Communications (Financial PR)
Rebecca Sanders Hewett / Sarah Fabietti / Harriet Lynch

020 7382 4730
empresaria@redleafpr.com

Notes for editors:

§ Empresaria Group plc is an international specialist staffing group with 19 brands operating in 18 countries across the globe including UK, Germany, Japan, India, UAE, Indonesia, Chile, Australia, Thailand, Singapore, Finland, USA and the Philippines.

§ The Group offers temporary and permanent staffing solutions as well as Offshore Recruitment Services in six key sectors including Technical & Industrial, IT Digital & Design, Financial, Healthcare and Retail.

§ Empresaria applies a multi brand, management equity philosophy and business model, with Group company management teams holding significant equity in their own business.

§ The Group is listed on AIM under ticker EMR. For more information: http://www.empresaria.com/

Chairman’s statement

Performance overview

Trading summary

£’m

2015

2014

% change

% change

constant currency**

Revenue

187.3

187.9

(0.3%)

3%

Net fee income

49.2

44.6

10%

16%

Operating profit

7.6

6.4

19%

29%

Profit before tax

7.1

5.9

20%

30%

Adjusted operating profit*

8.0

6.6

21%

30%

Adjusted profit before tax*

7.5

6.1

23%

44%

* The adjusted operating profit and adjusted profit before tax figures exclude exceptional items, profit or loss on disposal of businesses and intangible amortisation.

** The like-for-like currency movement is calculated by translating the 2014 results at the 2015 exchange rates.

It has been an important year in the Group’s development as we delivered a record profit, developed the organic investments made in 2014, invested in new staff across our brands and issued new equity to fund the purchase of a high quality business operating in the USA healthcare sector, which also brought new investors onto the shareholder register.

Click here to download the complete results


Back to Top