Trading Update

Empresaria, the global specialist staffing group, today provides an update on trading.

The challenging market conditions we have experienced throughout 2023 have continued into the fourth quarter of the year and we now expect these to continue into the first half of 2024. The most significant impact has been on permanent recruitment throughout the year, and we are now seeing clients deferring hiring decisions and/or start dates until the new year. As a result, full year adjusted profit before tax is expected to be in the range of £3.0 to £3.5m.

As previously communicated, we have taken significant action on costs during 2023. As a result, costs in the second half of the year are expected to be more than £3m lower than in the first half. We continue to execute on our strategy, with an increased focus on simplifying the Group and how we operate while maintaining strong control over costs. We are confident that the actions we have taken, and are taking, will ensure the Group is well positioned to deliver on our growth potential when the market recovers.

In line with previous years, we expect to provide an update on full year trading for 2023 on 25 January 2024.