Empresaria has seen group revenue climb 44%, with a 12% increase in UK revenue year-on-year, according to the international specialist staffing group’s results for the year ended 31 December 2016.

The results, published this morning, reveal group revenue increased from £187.3m in 2015 to £270.4m in 2016, while net fee income (NFI) grew from £49.2m to £59m. The group attributed underlying growth in NFI to its 2016 investments in Rishworth Aviation and ConSol Partners as well as the full-year affect of its October 2015 acquisition Pharmaceutical Strategies feeding into its bottom line.

In the UK, revenue increased 12% along with NFI up 3%, which the group attributes to the October 2016 addition of ConSol Partners and an improved result from the group’s technical and industrial sector following a move away from low-value work in the past few years. The group added its emphasis on higher value work also helped reduce the adverse effect from the change in travel and subsistence rules in April 2016. 

However, the group also reports its domestic services, recruitment-to-recruitment sales and retail brands delivered broadly flat profits year on year. Meanwhile, the biggest impact of the UK’s vote to leave the European Union last June was felt the within the group’s professional services division, with NFI and profit both down year on year.

Although the group notes this market stabilised following the vote, but activity levels were lower and costs were higher in the year from both property and staff costs as the group invested in building out a finance and accounting division. Across the group as a whole, strongest results were seen in Germany in Empesaria’s Headway business, in Japan within its Skillhouse business and South East Asia with Monroe Consulting. Solid performances were also witness in Finland, Australia, China, India and Chile. Commenting on the group’s results, CEO Joost Kreulen pointed to another year of record profit and strong growth in adjusted earnings per share, demonstrating the group’s strength of its diversified business model.  

“We are focused on delivering on our strategy: strengthening a multi-branded group, with an emphasis on developing leading brands that are diversified and balanced by geography and sector.

“Alongside the solid performances across a number of countries, we are particularly pleased to have secured two significant international investments during the year; Rishworth Aviation and ConSol Partners. Both brands operate in sectors with good long-term growth prospects and complement the Group's 'Invest & Develop' strategy. We look forward to the growth opportunities that these businesses have as part of the group.  

“We continue to see exciting growth opportunities to develop our group and deliver increased profits and we look to 2017 with confidence."

Empresaria results at a glance:

* Adjusted to exclude amortisation of intangible assets, exceptional items, gain or loss on disposal of business and fair value charges on acquisition of non-controlling interests.

** The constant currency movement is calculated by translating the 2015 results at the 2016 exchange rates.