Report

Empresaria (EMR.L) Strategy pays dividends

EmpresariaÂ’s prelims confirm that the hard work it did through the recession is now paying off well, with FY14 Net Fee Income (NFI) +5%, PBT (Adj.) up 13%, EPS (Dil. Adj.) up 29% despite currency headwinds. The outlook is improving and Empresaria doubled the dividend as a sign of confidence. The share price has done little in the last 12 months and continues to be valued at a material discount to its peers. We would expect the discount to narrow assuming Empresaria continues to deliver as (or better than) expected.
Underlying
Empresaria Group PLC

Empresaria Group is an international specialist staffing group. As of Dec 31 2016, Co. operated in 19 countries across four geographic regions and across seven primary sectors. Co.'s business is segmented into four regions, U.K., Continental Europe, Asia Pacific and the Americas. Co.'s primary sectors include technical and industrial, information technology, digital and design, professional services, retail, executive search, healthcare, aviation services, and other. Co. has three main service lines, temporary and contract recruitment, permanent recruitment and offshore recruitment services.

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Hardman & Co
Hardman & Co

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