FINANCIALS: Offshore recruitment division boosts Empresaria’s growth

International specialist staffing group Empresaria has seen net fee income growth of 2% year-on-year in constant currency, according to a trading update for the year to 31 December 2019.

The results, released this morning, reveal a 28% decline in NFI for the group’s property, construction and engineering division, where a restructure has now been completed resulting in the closure of most of the group’s UK engineering business. However, this was offset by 37% NFI growth for its offshore recruitment services division, which the group believes will be a key driver of growth in future.

Empresaria CEO Rhona Driggs said: “We have delivered results for the year in line with expectations as stated in October, with growth in NFI for the year despite a challenging trading environment.

“We have made a number of significant operational changes in 2019 and have identified further key areas for operational improvement and investment in 2020 in order to build a stronger base for future growth and deliver an improved financial performance.

“While we invest in positioning the business for future growth in NFI and profitability, our diversity across sectors and geographies continues to provide a strong, profitable and cash-generative foundation from which to build.”

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