Empresaria Group plc
("Empresaria" or the "Group")
Trading Update and Notice of Results
22 January 2015
Empresaria, the international specialist staffing group, today issues a trading update for the financial year ended 31 December 2014, ahead of announcing its final results on Thursday 5 March 2015.
The Board is pleased to advise that full year profitability will be slightly ahead of market expectations. The Board expects adjusted profit before tax growth of approximately 13% year on year, with net fee income approximately 3% ahead of the prior year. Total net debt has also reduced by 36% from £15.2m in 2013 to £9.8m in 2014.
Joost Kreulen, Chief Executive of Empresaria, said:
"The Group has continued to deliver on its brand led strategy, focused on growth markets and sectors, which has driven the strong increase in adjusted profit before tax and a continued reduction in overall debt levels. This has been achieved despite the investments made during the year, which are in line with our strategy of developing our core brands and investing in growth markets around the world.
During the year we have expanded our global presence through the opening of new offices in Hong Kong, Malaysia, Chile and Mexico. In March we announced the investment in a Dubai based professional search firm, which allowed Empresaria to enter into a new and dynamic geographic region.
We have also further strengthened our existing presence in the Creative and Digital arena with the investment in a UK based marketing recruitment firm in December. The full benefit of this investment will be seen in 2015. We continue to investigate further investment opportunities to enhance our existing regional and sector coverage and so help accelerate the growth of the business.
We are particularly pleased with the performance of the Group in Germany and India during the year. In Germany there was a significant improvement in profitability following the restructuring of operations in 2012 and 2013. In India the growth in profits is mainly coming from Offshore Recruitment Services in the US and UK, with strong levels of demand continuing into 2015.
We see exciting growth opportunities ahead and are confident in our ability to continue to deliver profitable growth."