UK-based international recruitment firm Empresaria published a trading update for the year ending 31 December 2016 with net fee income up 20% from the previous year.

The group also predicted 2016 profit slightly ahead of market expectations. Empresaria also said it expects adjusted profit before tax growth to rise 23%, a group record.

The company noted robust performances from businesses in Germany, Japan and South East Asia while units in Finland, Australia, China, India and Chile did well. Its UK technical & industrial brands operation also performed well but year-on-year profit in Britain was down as a result of uncertainty caused by the E.U. referendum. The group said it was encouraged by increased business activity in the UK as it moves into 2017.

In the Middle East, weak economic conditions persisted in the second half and expected improvements did not materialize.

"The business has been restructured accordingly and the group expects an improved result in 2017 from this region," Empresaria said in a statement.

The group's Pharmaceutical Strategies operation in the US faces a short-term impact on profit following investment and a loss of some business from its largest customer.

In trading today, Empresaria Group set a new 52-week high during today's trading session when it reached £126.90, up 2.88% on the day. Over this period, the share price is up 47.06%. Based on its current share price the company has a market value of £59.5 million.