25 May 2012

Interim turnaround at Empresaria

09/09/2010 Robert Tyerman

Recruitment group Empresaria expects to beat market forecasts after turning £1.7 million first-half losses into £2.3 million interim pre-tax profits.

The Crawley-based company increased turnover 20 per cent to £108.2 million in the six months to June, with permanent staffing revenue up 54 per cent and temporary staffing revenue ahead 19 per cent.

AIM-quoted Empresaria, which grew its overseas net fee income to 66 per cent of the total, highlights strong improvements in Germany (on the temporary side) and developing Asian markets. Chief executive Miles Hunt says the company's strategy has been to develop temporary staffing operations, 'which are generally more stable than permanent recruitment', and particular fields with perceived strong growth potential, such as outsourcing in India and corporate training and 'e-learning' in south-east Asia.

According to Hunt, Empresaria, which ended June with £5.5 million cash, is experiencing strong trading in the third quarter and anticipates full year results 'ahead of market expectations'. The shares, which have traded between 32.5p and 62.75p over the past year, now change hands at 55p, up 1p this morning and valuing the company at £24.5 million.

Tags: AIM, Cash, Emerging markets, Growth Stocks, Turnaround

Sector: Support Services

Companies: Empresaria

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