TIDMEMR

RNS Number : 2636A

Empresaria Group PLC

23 May 2023

23 May 2023

Empresaria Group plc

("Empresaria" or the "Group")

Trading Update

Empresaria, the global specialist staffing group, provides the following update ahead of its Annual General Meeting today at 1:00pm.

The softening of demand and slowing of hiring decisions seen across the Group's businesses in the second half of 2022 have continued into 2023. As a result, net fee income for the four months to 30 April 2023 is 5% lower than the same period in the prior year and half year profits are expected to be down significantly year-on-year against a strong 2022 comparator.

While the Group has implemented a number of measures which will adjust the cost base in the second half of the year, the economic uncertainty makes it challenging to predict the outcome for the full year. At present, full year adjusted profit before tax is expected to be approximately GBP7m.

We are continuing to deliver on our strategic initiatives and are confident in the medium-term prospects for the Group.

We will provide a full update with the interim results that are expected to be announced on 22 August 2023.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

- Ends -

Enquiries:

 
Empresaria Group plc                      via Alma PR 
 Rhona Driggs, Chief Executive Officer 
 Tim Anderson, Chief Financial Officer 
Singer Capital Markets (Nominated 
 Adviser and Broker) 
 Shaun Dobson / James Moat                020 7496 3000 
Cenkos Securities plc (Joint Broker) 
 Katy Birkin / Charlie Combe (Corporate 
 Finance) 
 Michael Johnson / Jasper Berry (Sales)   020 7397 8900 
Alma PR (Financial PR)                    020 3405 0205 
 Sam Modlin / Pippa Crabtree / Hilary      empresaria@almapr.co.uk 
 Buchanan 
 

Notes for editors:

-- Empresaria Group plc is a global specialist staffing group. We are driven by our purpose to positively impact the lives of people, while delivering exceptional talent to our clients globally. We offer temporary and contract recruitment, permanent recruitment and offshore services across six sectors: Professional, IT, Healthcare, Property, Construction & Engineering, Commercial and Offshore Services.

-- Empresaria is structured in four regions (UK & Europe, APAC, Americas and Offshore Services) and operates from locations across the world including the four largest staffing markets of the US, Japan, UK and Germany along with a strong presence elsewhere in Asia Pacific and Latin America.

-- Empresaria is listed on AIM under ticker EMR. For more information visit empresaria.com.

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END

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(END) Dow Jones Newswires

May 23, 2023 02:00 ET (06:00 GMT)

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