South-East Asian markets help Empresaria record rising revenues
Buoyed by South-East Asian markets, international recruiter Empresaria has seen revenues and profits rise for the year ended 31 December 2010.
The group’s results reveal:
Buoyed by South-East Asian markets, international recruiter Empresaria has seen revenues and profits rise for the year ended 31 December 2010.
The group’s results reveal:
| 2010 | 2009?Restated | % change | % change (constant currency) | |
| Revenue | £223.4m | £190.5m | +17% | +14% |
| Net fee income | £49.0m | £40.6m | +21% | +20% |
| Operating profit/(loss) | £7.5m | (£1.0m) | ||
| Adjusted operating profit | £7.8m | £4.3m | +81% | |
| Profit/(loss) before tax | £6.7m | (£1.5m) | ||
| Adjusted profit before tax | £6.8m | £3.5m | +94% |
Other highlights are:
· 58% growth in permanent revenue
· 15% growth in temporary revenue
· Conversion ratio improved to 16%
· Strong cash generation with cash generated from operations of £8.3m
Chairman Tony Martin says: “Group operations around the world continue to benefit from broadly positive market environments. Our South-East Asia markets have been particularly strong in recent months.
“The two geographies where we are experiencing some challenges and market uncertainty are Japan and Germany. In the case of Japan, our two trading companies have both been adversely affected by the earthquake and tsunami, and we do expect some months of further disruption.
“In the case of Germany, recent legal challenges to certain collective labour agreements have created some short-term market turbulence and gross margin erosion, as well as exposed a significant number of staffing companies operating in Germany to possible future claims from third parties.”
