Empresaria Group plc plans to report net fee income, or gross profit, for 2019 will be up 3% compared to the previous year, according to a trading update released today. The increase is 2% in constant currency. 

The London-based staffing provider plans to release full results on March 18.

"We have delivered results for the year in line with expectations as stated in October, with growth in net fee income for the year despite a challenging trading environment,” CEO Rhona Driggs said.

Empresaria noted its IT sector has shown an increase in net fee income, more than offsetting the challenges of rebuilding the temp base in Japan following the regulatory changes in 2018, and is investing in growing its presence in the US temp market and strengthening its position in temp in the UK to position the company for future growth.

Empresaria in October issued a profit warning due to Brexit uncertainty impacting its engineering sector.

Adjusted profit before tax is anticipated to be in line with market expectations at £9.3 million (USD 12.2 million), down from £11.4 million (USD 14.9 million) in 2018.

The reduction in adjusted profit before tax reflects the impact of the material declines in the UK engineering business along with the impact of Brexit in the UK and the slowdown in the German automotive sector, according to the company.

Empresaria operates in 20 countries worldwide, including the US.

Share price and market cap

Empresaria shares were up 0.465% to £54.25 at 11:50 a.m. Eastern time; the company had a market cap of £26.47 million, according to FT.com.