http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20090618:RnsR0698U
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RNS Number : 0698U

Empresaria Group PLC

18 June 2009

18 June 2009

Empresaria Group plc

AGM Statement

At today's Annual General Meeting of Empresaria Group plc ("Empresaria" or "the
Group"), the international specialist staffing group, the Board will make the
following statement:

Group strategy is to develop an international specialist staffing group balanced
by geography and sector and with a strong emphasis on temporary staffing
operations. There are two drivers behind this strategy; to gain access to
higher growth economies and staffing markets, and to reduce the risks inherent
in cyclical markets and volatile economies through diversification and focus on
more stable revenue streams. In 2008, 60% of net fee income was derived from
markets outside the UK. The Group now operates in 20 countries and generates
over 75% of its net fee income from temporary staffing operations.

Our focus on developing markets and economies has alleviated some of the
downward pressure on revenues and margins, and the management equity philosophy
that underpins Group strategy ensures that we have motivated management teams
showing flexibility, creativity and commitment in tackling more difficult market
conditions.

Revenues for the current financial year to April, excluding discontinued
operations, are 4% down on the same period in 2008 and net fee income is down
22% on the same period. These volume reductions are driven largely by
reductions in permanent fee income levels (34% down at the end of April) with
temporary revenues remaining consistent with the previous year. Declines in
temporary revenues within Continental Europe, particularly Germany where we have
some exposure to the manufacturing sector, have been offset by growth in other
markets. It is encouraging to note that temp numbers have been growing again in
Germany since mid-April.

Not all markets and economies have experienced material change. We continue to
see growth in our Property Services operations in the UK, driven largely by
demand within the infrastructure and transport environment, as well as for our
healthcare operations in Scandinavia, our engineering and logistics divisions in
Germany, our outsourcing operations in South America and within certain
developing economies in Asia.

To combat the reduction in Group net fee income we have been reducing overheads,
closing or selling off a number of poorly performing branches and operations and
holding back on investment activity and capital expenditure.

In addition to reducing costs we have also raised approximately £2.7m, net of
expenses, through the issue of new shares in May this year. The rationale behind
the new share issue was to provide the financial flexibility to support our
growing businesses in emerging markets as well as strengthen the Group in
anticipation of the eventual market upturn.

Although we are not seeing any dramatic improvement in specific economies and
markets, there is evidence in recent weeks of increased market stability and in
some cases of improved levels of confidence reflected in increased numbers of
enquires, vacancies, job orders and in temporary staffing revenues. Our
business, due to seasonality, is heavily weighted towards the second half of the
year. With a reduced cost base and assuming a continuation of these early signs
of increased market stability, the Board's expectations for the full year remain
unchanged.

For further information contact:


Miles Hunt
Chief Executive, Empresaria Group plc 01293 649 900

Stuart Kilpatrick
Finance Director, Empresaria Group plc 01293 649 900

Nicholas How
Singer Capital Markets Limited 020 3205 7620


Notes for editors:

About Empresaria

*Empresaria operates out of 20 countries and approximately 135 offices and has
over 1,000 internal staff.

*60% of the Group's net fee income is generated outside the UK, and over 75% of
net fee income is generated from temporary and contract business

*Empresaria applies a management equity philosophy and business model with each
group company management team holding significant equity in its own business


This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMSFLFLWSUSELM

.
RNS Number : 0698U

Empresaria Group PLC

18 June 2009

18 June 2009

Empresaria Group plc

AGM Statement

At today's Annual General Meeting of Empresaria Group plc ("Empresaria" or "the
Group"), the international specialist staffing group, the Board will make the
following statement:

Group strategy is to develop an international specialist staffing group balanced
by geography and sector and with a strong emphasis on temporary staffing
operations. There are two drivers behind this strategy; to gain access to
higher growth economies and staffing markets, and to reduce the risks inherent
in cyclical markets and volatile economies through diversification and focus on
more stable revenue streams. In 2008, 60% of net fee income was derived from
markets outside the UK. The Group now operates in 20 countries and generates
over 75% of its net fee income from temporary staffing operations.

Our focus on developing markets and economies has alleviated some of the
downward pressure on revenues and margins, and the management equity philosophy
that underpins Group strategy ensures that we have motivated management teams
showing flexibility, creativity and commitment in tackling more difficult market
conditions.

Revenues for the current financial year to April, excluding discontinued
operations, are 4% down on the same period in 2008 and net fee income is down
22% on the same period. These volume reductions are driven largely by
reductions in permanent fee income levels (34% down at the end of April) with
temporary revenues remaining consistent with the previous year. Declines in
temporary revenues within Continental Europe, particularly Germany where we have
some exposure to the manufacturing sector, have been offset by growth in other
markets. It is encouraging to note that temp numbers have been growing again in
Germany since mid-April.

Not all markets and economies have experienced material change. We continue to
see growth in our Property Services operations in the UK, driven largely by
demand within the infrastructure and transport environment, as well as for our
healthcare operations in Scandinavia, our engineering and logistics divisions in
Germany, our outsourcing operations in South America and within certain
developing economies in Asia.

To combat the reduction in Group net fee income we have been reducing overheads,
closing or selling off a number of poorly performing branches and operations and
holding back on investment activity and capital expenditure.

In addition to reducing costs we have also raised approximately £2.7m, net of
expenses, through the issue of new shares in May this year. The rationale behind
the new share issue was to provide the financial flexibility to support our
growing businesses in emerging markets as well as strengthen the Group in
anticipation of the eventual market upturn.

Although we are not seeing any dramatic improvement in specific economies and
markets, there is evidence in recent weeks of increased market stability and in
some cases of improved levels of confidence reflected in increased numbers of
enquires, vacancies, job orders and in temporary staffing revenues. Our
business, due to seasonality, is heavily weighted towards the second half of the
year. With a reduced cost base and assuming a continuation of these early signs
of increased market stability, the Board's expectations for the full year remain
unchanged.

For further information contact:


Miles Hunt
Chief Executive, Empresaria Group plc 01293 649 900

Stuart Kilpatrick
Finance Director, Empresaria Group plc 01293 649 900

Nicholas How
Singer Capital Markets Limited 020 3205 7620


Notes for editors:

About Empresaria

*Empresaria operates out of 20 countries and approximately 135 offices and has
over 1,000 internal staff.

*60% of the Group's net fee income is generated outside the UK, and over 75% of
net fee income is generated from temporary and contract business

*Empresaria applies a management equity philosophy and business model with each
group company management team holding significant equity in its own business


This information is provided by RNS

The company news service from the London Stock Exchange

END

AGMSFLFLWSUSELM

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