FINANCIALS: Empresaria Group posts profit
4 September 2014
Improving market conditions in the UK and Germany, purchase of a Dubai recruitment firm and investments in new offices have helped international recruitment firm Empresaria post an interim six-monthly profit.
Thu, 4 Sep 2014
Improving market conditions in the UK and Germany, purchase of a Dubai recruitment firm and investments in new offices have helped international recruitment firm Empresaria post an interim six-monthly profit.
Plans are to continue growth, which will be aided by the new offices in Hong Kong, Malaysia, Chile and Mexico.
The office in Dubai offers not only growth potential, but opportunity to develop the business in a new geographical area, chief executive Joost Kreulen said in a statement.
The company’s unaudited six-monthly results to 30 June show a 3% net fee income (NFI) profit from £20.9m to £21.6m, or 10% in constant currency terms.
Operating profit rose 21% from £1.9m to £2.3m, or 30% in constant currency.
Revenue, however, decreased by 2% from £95.6m to £94m, impacted by “currency headwinds”, a statement from the group said.
The military coup in Thailand and presidential elections in Indonesia affected business confidence in those countries but that was countered by “particularly strong performances” in Japan and India, the statement said.
The company recruits for the financial, IT digital and design, technical and industrial, and retail sectors. The technical and industrial sector drove company profits, accounting for 44% of NFI. IT digital and design also contributed to driving growth, accounting for 15% of the NFI.
Improving market conditions in the UK and Germany, purchase of a Dubai recruitment firm and investments in new offices have helped international recruitment firm Empresaria post an interim six-monthly profit.
Plans are to continue growth, which will be aided by the new offices in Hong Kong, Malaysia, Chile and Mexico.
The office in Dubai offers not only growth potential, but opportunity to develop the business in a new geographical area, chief executive Joost Kreulen said in a statement.
The company’s unaudited six-monthly results to 30 June show a 3% net fee income (NFI) profit from £20.9m to £21.6m, or 10% in constant currency terms.
Operating profit rose 21% from £1.9m to £2.3m, or 30% in constant currency.
Revenue, however, decreased by 2% from £95.6m to £94m, impacted by “currency headwinds”, a statement from the group said.
The military coup in Thailand and presidential elections in Indonesia affected business confidence in those countries but that was countered by “particularly strong performances” in Japan and India, the statement said.
The company recruits for the financial, IT digital and design, technical and industrial, and retail sectors. The technical and industrial sector drove company profits, accounting for 44% of NFI. IT digital and design also contributed to driving growth, accounting for 15% of the NFI.
