Trading Update

Empresaria Group PLC

21 November 2023

 

21 November 2023

Empresaria Group plc

("Empresaria" or the "Group")

Trading update

Empresaria, the global specialist staffing group, today provides an update on trading.

The challenging market conditions we have experienced throughout 2023 have continued into the fourth quarter of the year and we now expect these to continue into the first half of 2024.  The most significant impact has been on permanent recruitment throughout the year, and we are now seeing clients deferring hiring decisions and/or start dates until the new year.  As a result, full year adjusted profit before tax is expected to be in the range of £3.0 to £3.5m.

As previously communicated, we have taken significant action on costs during 2023.  As a result, costs in the second half of the year are expected to be more than £3m lower than in the first half.  We continue to execute on our strategy, with an increased focus on simplifying the Group and how we operate while maintaining strong control over costs.  We are confident that the actions we have taken, and are taking, will ensure the Group is well positioned to deliver on our growth potential when the market recovers.

In line with previous years, we expect to provide an update on full year trading for 2023 on 25 January 2024.

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.

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Enquiries:

Empresaria Group plc Rhona Driggs, Chief Executive Officer Tim Anderson, Chief Financial Officer	via Alma PR
Singer Capital Markets (Nominated Adviser and Joint Broker) Shaun Dobson / James Moat	020 7496 3000
Cavendish Capital Markets Limited (Joint Broker) Katy Birkin (Corporate Finance) Michael Johnson / Jasper Berry (Sales)	020 7220 0500
Alma Strategic Communications Sam Modlin / Rebecca Sanders-Hewett / Will Merison	020 3405 0205 [e-mail]

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 www.empresaria.com.

 

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