Empresaria Group profits rise

4th Sep 2014 18:30

International staffing group Empresaria Group saw its operating profit for the six months to 30 June rise 21% (30% at constant currency) to £2.3m.Improving market conditions in Germany and in the UK, the purchase of a Dubai recruitment firm and investments in new offices have been cited by the company as the key factors contributing to the increase in profit."The group has made strong progress to date in 2014, both financially and operationally, and is delivering on its brand led strategy with a focus on growth markets and sectors," said group chief executive Joost Kreulen. "We continue to invest in our brands to deliver future growth, with new offices opened in Hong Kong, Malaysia, Chile and Mexico. "During the period we also made an investment in a Dubai based professional search firm which allowed Empresaria to enter into a new and important geographic region. We continue to investigate further investment opportunities to help drive our business forward."Revenue, impacted by currency headwindS, fell 2% to £94m, though it rose 4% at constant currency, while profit before tax rose 41% at constant currency.Empresaria said that investments in Hong Kong, Malaysia, Chile and Mexico provide long term growth opportunities and it remained confident that earnings for the full year will be in line with market expectations.Empresaria shares were down 4.70% to 48.12p at 14:30 on Thursday.