REG - Empresaria Group PLC - Trading Update

EmpresariaAnnouncement

21/11/2023 07:00

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RNS Number : 0450U  Empresaria Group PLC  21 November 2023

21 November 2023

 

Empresaria Group plc

("Empresaria" or the "Group")

 

Trading update

Empresaria, the global specialist staffing group, today provides an update on
trading.

 

The challenging market conditions we have experienced throughout 2023 have
continued into the fourth quarter of the year and we now expect these to
continue into the first half of 2024.  The most significant impact has been
on permanent recruitment throughout the year, and we are now seeing clients
deferring hiring decisions and/or start dates until the new year.  As a
result, full year adjusted profit before tax is expected to be in the range of
£3.0 to £3.5m.

 

As previously communicated, we have taken significant action on costs during
2023.  As a result, costs in the second half of the year are expected to be
more than £3m lower than in the first half.  We continue to execute on our
strategy, with an increased focus on simplifying the Group and how we operate
while maintaining strong control over costs.  We are confident that the
actions we have taken, and are taking, will ensure the Group is well
positioned to deliver on our growth potential when the market recovers.

 

In line with previous years, we expect to provide an update on full year
trading for 2023 on 25 January 2024.

 

 

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 Joint Broker)  020 7496 3000
 Shaun Dobson / James Moat

 Cavendish Capital Markets Limited (Joint Broker)             020 7220 0500
 Katy Birkin (Corporate Finance)

Michael Johnson / Jasper Berry (Sales)
 Alma Strategic Communications                                020 3405 0205
 Sam Modlin / Rebecca Sanders-Hewett / Will Merison
empresaria@almastrategic.com

 

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
www.empresaria.com.

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