Empresaria Group PLC Annual Report and Accounts and Notice of AGM (7829A)

TIDMEMR

RNS Number : 7829A

Empresaria Group PLC

28 March 2017

28 March 2017

Empresaria Group plc

("Empresaria" or the "Company")

Annual Report and Accounts and Notice of AGM

Technical change to Preliminary Statement

Empresaria, the international specialist staffing group, is today posting its Annual Report and Accounts for the year ended 31 December 2016 and Notice of Annual General Meeting ("AGM") and Form of Proxy to its shareholders. The AGM will be held at 1 p.m. on Wednesday 3 May 2017 at the Company's head office at Old Church House, Sandy Lane, Crawley Down, Crawley, West Sussex RH10 4HS.

Copies of the Annual Report and Accounts, Notice of AGM and Form of Proxy will be available to download from the Governance section of the Company's website (empresaria.com).

We draw your attention to a change made to the disclosures presented in the Consolidated Cashflow Statement within the Preliminary Statement announced on 1 March 2017, as detailed below.

Following a review of the Group's accounting policy, the presentation of the movement in invoice financing in the Cashflow Statement has been amended with a restatement of the prior year presentation, to provide shareholders with a clearer understanding of the operating cash flows of the Group. Under the revised accounting treatment this is now presented as part of 'Cash flow from financing activities' rather than 'Cash flow from operating activities'. The impact of the restatement is a disclosure change only and is summarised below.

In the Cashflow Statement:

 
 Year to 31 December               Cash          Net cash      Net cash            Movement 
  2016                        generated    from operating          from              in net 
                                   from        activities     financing            cash and 
                             operations                      activities    cash equivalents 
 Previously disclosed: 
  Increase                         11.9               6.4           9.3                 8.7 
 Adjustment in invoice 
  financing presentation          (0.8)             (0.8)           0.8                   - 
                           ------------  ----------------  ------------  ------------------ 
 Restated: Increase                11.1               5.6          10.1                 8.7 
 
 Year to 31 December               Cash                        Net cash            Movement 
  2015                        generated          Net cash          from              in net 
                                   from    from operating     financing            cash and 
                             operations        activities    activities    cash equivalents 
 Previously disclosed: 
  Increase                          7.6               5.3           1.4                 0.1 
 Adjustment in invoice 
  financing presentation            1.2               1.2         (1.2)                   - 
                           ------------  ----------------  ------------  ------------------ 
 Restated: Increase                 8.8               6.5           0.2                 0.1 
 

There was no impact of the above changes on the Consolidated Income Statement, the Consolidated Balance Sheet and earnings per share. The revised Cashflow Statement can be reviewed in the Report and Accounts which will be made available on the Company's website.

Enquiries:

 
 Empresaria Group plc                 via Redleaf 
  Joost Kreulen, Chief Executive 
  Officer 
  Spencer Wreford, Group Finance 
  Director 
 Arden Partners (Nominated Adviser 
  and Broker) 
  John Llewellyn-Lloyd / Steve 
  Douglas / Ciaran Walsh              020 7614 5900 
 Redleaf Communications (Financial    020 7382 4730 
  PR)                                  [e-mail] 
  Rebecca Sanders Hewett / Sam 
  Modlin 
 

Notes for editors:

-- Empresaria Group plc is an international specialist staffing group with 21 brands operating in 19 countries across the globe including the UK, Germany, Japan, India, UAE, Indonesia, Chile, Australia, Thailand, Singapore, Finland, USA, New Zealand, China, Malaysia and the Philippines.

-- Empresaria offers temporary/contract and permanent staffing solutions as well as Offshore Recruitment Services in seven key sectors: Technical & Industrial, Aviation Services, IT & Design, Professional Services, Healthcare, Executive search and Retail.

-- Empresaria applies a multi brand, management equity philosophy and business model, with Empresaria group company management teams holding significant equity in their own business.

-- Empresaria is listed on AIM under ticker EMR. For more information: empresaria.com

This information is provided by RNS

The company news service from the London Stock Exchange

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March 28, 2017 09:21 ET (13:21 GMT)