Empresaria Group reveals Half Year results
West Sussex staffing company Empresaria Group has announced its unaudited interim results for the six months ended 30 June 2023.
The company posted declines in a number of areas including revenue and operating profit.
Revenue was down three per cent for the company, going from £129.8 million this time last year to £125.7 milloon this year.
Empresaira also posted a 84 per cent decline in operating profit, with the figure going from last years £3.8 million to this years £0.8 million.
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The firm has attributed its performance to challenging market conditions impacting a number of its financial areas.
It plans to manage the cost base taken in Q2 2023, with benefit due to be seen in H2 this year.
Chief Executive Officer, Rhona Driggs, said: "The challenging market conditions that developed during the second half of 2022 remained through the first half of 2023. The market has yet to show any significant or sustained signs of improvement as client and candidate confidence remains at lower levels across the majority of our markets and sectors.
''Our cost base at the start of 2023 was elevated compared to the first half of 2022 reflecting inflationary pressures and targeted investments we made in headcount during 2022 in response to client demand in the first half of that year.
''While we are disappointed with the start to 2023, we are making progress on our key strategic actions to deliver growth. Given current market conditions we continue to review our operational and investment priorities to ensure the Group is best placed to realise our medium-term ambition."
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