FINANCIALS: Market conditions improving as Empresaria operating profits rise by 34%
11 March 2014
Operating profits at international staffing group Empresaria rose by 34% to £5.5m in the year to 31 December 2013, with pre-tax profits up 49% at £4.9m.
Tues, 11 Mar 2014
Operating profits at international staffing group Empresaria rose by 34% to £5.5m in the year to 31 December 2013, with pre-tax profits up 49% at £4.9m.
Group revenue was flat at £194.4m, with net fee income down 3% to £42.6m (2012: £43.9m).
UK revenue grew 6% to £70.7m (2012: £66.5m) with permanent sales up 2% and temporary sales up 7%.
Adjusted operating profit of £2.1m was slightly down on the previous year, however the underlying operating profit of the retained business increased by 1%.
Growth in the UK has been led by London and the service sector, although the manufacturing and construction sectors are also showing signs of recovery.
Joost Kreulen, Empresaria chief executive officer, says: “Improvements have been particularly marked in the Rest of the World region, where the profits in Singapore and the turnaround in Chile supported a 40% increase in adjusted operating profit.
“Market conditions are improving in UK and Continental Europe, and the economic forecasts are positive in all the countries in which we operate.”
Operating profits at international staffing group Empresaria rose by 34% to £5.5m in the year to 31 December 2013, with pre-tax profits up 49% at £4.9m.
Group revenue was flat at £194.4m, with net fee income down 3% to £42.6m (2012: £43.9m).
UK revenue grew 6% to £70.7m (2012: £66.5m) with permanent sales up 2% and temporary sales up 7%.
Adjusted operating profit of £2.1m was slightly down on the previous year, however the underlying operating profit of the retained business increased by 1%.
Growth in the UK has been led by London and the service sector, although the manufacturing and construction sectors are also showing signs of recovery.
Joost Kreulen, Empresaria chief executive officer, says: “Improvements have been particularly marked in the Rest of the World region, where the profits in Singapore and the turnaround in Chile supported a 40% increase in adjusted operating profit.
“Market conditions are improving in UK and Continental Europe, and the economic forecasts are positive in all the countries in which we operate.”
