REG - Empresaria Group PLC - Trading Update

EmpresariaAnnouncement

23/05/2023 07:00

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RNS Number : 2636A  Empresaria Group PLC  23 May 2023

23 May 2023

 

Empresaria Group plc

("Empresaria" or the "Group")

 

Trading Update

 

 

Empresaria, the global specialist staffing group, provides the following
update ahead of its Annual General Meeting today at 1:00pm.

 

The softening of demand and slowing of hiring decisions seen across the
Group's businesses in the second half of 2022 have continued into 2023.  As a
result, net fee income for the four months to 30 April 2023 is 5% lower than
the same period in the prior year and half year profits are expected to be
down significantly year-on-year against a strong 2022 comparator.

 

While the Group has implemented a number of measures which will adjust the
cost base in the second half of the year, the economic uncertainty makes it
challenging to predict the outcome for the full year.  At present, full year
adjusted profit before tax is expected to be approximately £7m.

 

We are continuing to deliver on our strategic initiatives and are confident in
the medium-term prospects for the Group.

 

We will provide a full update with the interim results that are expected to be
announced on 22 August 2023.

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the EU
Market Abuse Regulation (2014/596) which is part of UK law by virtue of the
European Union (Withdrawal) Act 2018, as amended and supplemented from time to
time.

 

- Ends -

 

Enquiries:

 Empresaria Group plc                                   via Alma PR
 Rhona Driggs, Chief Executive Officer

Tim Anderson, Chief Financial Officer
 Singer Capital Markets (Nominated Adviser and Broker)  020 7496 3000
 Shaun Dobson / James Moat
 Cenkos Securities plc (Joint Broker)                   020 7397 8900
 Katy Birkin / Charlie Combe (Corporate Finance)

Michael Johnson / Jasper Berry (Sales)
 Alma PR (Financial PR)                                 020 3405 0205
 Sam Modlin / Pippa Crabtree / Hilary Buchanan
empresaria@almapr.co.uk

 

Notes for editors:

§ Empresaria Group plc is a global specialist staffing group.  We are driven
by our purpose to positively impact the lives of people, while delivering
exceptional talent to our clients globally.  We offer temporary and contract
recruitment, permanent recruitment and offshore services across six sectors:
Professional, IT, Healthcare, Property, Construction & Engineering,
Commercial and Offshore Services.

 

§ Empresaria is structured in four regions (UK & Europe, APAC, Americas
and Offshore Services) and operates from locations across the world including
the four largest staffing markets of the US, Japan, UK and Germany along with
a strong presence elsewhere in Asia Pacific and Latin America.

 

§ Empresaria is listed on AIM under ticker EMR.  For more information visit
empresaria.com.

 

 

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