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07 Jun 2010

Empresaria Group shows good growth in Q1 statement

The Empresaria Group, our parent company (AIM:EMR), has announced its Q1 results for 2010, showing a 17% increase in revenues on the same period last year. The group also turned around last year’s figures with net fee income rising 24% year-on-year.

A statement from Empresaria following the recent AGM said: “These volume increases are driven largely by growth in temporary staffing revenues in the UK and Germany along with growing demand for a combination of staffing and HR services offered by Group companies in Asia, particularly for corporate training and Recruitment Process Outsourcing solutions. In addition, the UK operations have experienced an increase in permanent recruitment activity, a trend that may well be more transitory given the uncertainty as to the outlook for the UK economy.”

The group added: “Group profitability is much improved as a consequence of higher sales volumes, improved gross margin percentages and the effect of cost reductions made in the UK and Continental Europe during 2009. In addition, the Group is now benefiting from increased profit contribution from its rapidly maturing and fast growing portfolio of Asian companies that commenced trading as start up operations over recent years. Although the Board remains cautious as to the outlook for the global economy, it now expects full year profits to be materially ahead of current market expectations.”