FINANCIALS: Rest of World is best news for Empresaria with Asian improvement
5 September 2013
International staffing group Empresaria saw a global revenue decline of 2% in the first half of 2013, but adjusted operating profit rose as its Rest of the World (RoW) region was the strongest performer globally.
Thu, 5 Sep 2013International staffing group Empresaria saw a global revenue decline of 2% in the first half of 2013, but adjusted operating profit rose as its Rest of the World (RoW) region was the strongest performer globally.
Results available on the firm's website show that revenues dropped to £95.6m, down from £97.8m in the first six months of 2012, with the split remaining roughly even between the three divisions; UK, Continental Europe and RoW.
That latter division was again strong for the firm grew revenues by 12.5% to £23.4m, and net fee income (NFI) rose by about half that rate to £6.4m.
The firm says it saw “improved performance in particular” in Chile, Hong Kong and Singapore, while the Japanese retail division added a new team of consultants specialising in permanent recruitment, and the Indian outsourcing business “has grown strong following a restructure in 2011”.
UK revenue, NFI and operating profit dropped but only marginally, although the company says the economic outlook in the country “is more positive than at year-end”.
In Continental Europe, the company took a hit in Germany, which the firm says “as expected was negatively impacted at the gross profit level by the adoption of new equal pay surcharges of up to 50% on temporary pay rates”. Europe-wide revenue and NFI dropped by 11% and 21% respectively, although adjusted operating profit was up from £200k to £300k.
Results available on the firm's website show that revenues dropped to £95.6m, down from £97.8m in the first six months of 2012, with the split remaining roughly even between the three divisions; UK, Continental Europe and RoW.
That latter division was again strong for the firm grew revenues by 12.5% to £23.4m, and net fee income (NFI) rose by about half that rate to £6.4m.
The firm says it saw “improved performance in particular” in Chile, Hong Kong and Singapore, while the Japanese retail division added a new team of consultants specialising in permanent recruitment, and the Indian outsourcing business “has grown strong following a restructure in 2011”.
UK revenue, NFI and operating profit dropped but only marginally, although the company says the economic outlook in the country “is more positive than at year-end”.
In Continental Europe, the company took a hit in Germany, which the firm says “as expected was negatively impacted at the gross profit level by the adoption of new equal pay surcharges of up to 50% on temporary pay rates”. Europe-wide revenue and NFI dropped by 11% and 21% respectively, although adjusted operating profit was up from £200k to £300k.
- Click for more on Empresaria and other companies looking to break into the Japanese recruitment market, from a recruiter.co.uk City Comment from July by Adrian Kearsey.
