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Empresaria record FY will be below forecasts

Tuesday, 21st November 2017
Empresaria expects second half adjusted pre-tax profit to be ahead of both the first six months and last year.

The group said it was on track to post record adjusted pre-tax profits for the full year but warned that they would be below current market forecasts.

The group said this was primarily due to an increased current year impact from two issues that had previously been highlighted.

The group said it had seen reduced margins in Germany following legislation changes, the impact of which had started to be felt earlier than previously anticipated.

An update said: 'We expect the impact on adjusted PBT to continue through 2018, although we are confident that these changes will have a positive effect on the staffing market in Germany and so for our German business into the medium term.

'In the Middle East the weak market has continued, resulting in additional costs for resizing that business.'

At 9:54am: (LON:EMR) Empresaria Group PLC share price was -16.5p at 111p

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