Empresaria Group Plc - Capital Network: Perspective on the trading Update
Empresaria released a trading update on November 21st, lowering the expected growth rate for FY2017 PBT. This was due to the weak market conditions in the Mideast which were flagged in the H1 results, and also to changes in legislation in Germany. The German issue, also previously know, relates to rules restricting the length of tenure for contract workers (Empresaria’s main focus) and the introduction of equal pay after 9 months. These rules take full effect in 2018, but employers appear to be adjusting their behaviour ahead of implementation.
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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