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Empresaria profit rises 21.6%

September 17 2007

Profit at the Empresaria Group PLC, a London-based professional staffing company, rose 21.6% in the first half 2007 compared with the same period last year.

The company posted net income of GBP810,000 (US$1.6 million) in the first half of 2007; it recorded net income of GBP666,000 in the first half of 2006.

Revenue rose 64.2% to GBP55.7 million (US$111.6 million), compared with GBP33.9 million in the first half of 2006. Gross margin fell to 26.9% from 29.2%.

"The group continued to perform strongly over the first six months of 2007 and as Empresaria has historically traded better in the second half of the year it is anticipated that this trend will continue in 2007, particularly when augmented by a full six months' contribution from Headway," said Empresaria Chairman Tony Martin. Empresaria acquired German staffing company Headway in May.

Empresaria owns a 40% stake in Gerard Stewart, a financial search firm with an office in Atlanta. Empresaria has an option to increase the stake to 60%, but said it would not exercise the option at this point because of concerns over the economic outlook in the United States.

Empresaria Group PLC

For the first half of 2007 ended June 30, 2007, compared with the same period in the prior year.

Revenue: GBP55.7 million (US$111.6 million), +64.2%

Net income: GBP810,000 (US$1.6 million), +21.6%

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