EMPRESARIA GROUP PLC (EMR) — Full Year Results

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the EMPRESARIA GROUP PLC for your results investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and they can be submitted at any time using the q and a tab situated on the right hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses, which is appropriate to do so. Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Rona Driggs. Good morning to you. Good morning, and thank you for joining us for our 2024 full year results. The financial overview for the year, as as many of you are aware, challenging market conditions persisted throughout the year. Our net fee income reduced by 6% constant currency, excluding operations that we exited. Current placement saw the greatest impact and down 21%. Temporary and contract revenue was net fee income, apologies, was more resilient, up 2% for the year, and offshore services was down 6%, reflecting the wider recruitment market environment. Adjusted operating profit was down 21% constant currency with reported figure down 25% to 3,800,000, reflecting the impact of the reduction in net fee income. Our adjusted profit before tax down 37% to $2,200,000 and adjusted diluted loss per share of 1P reflecting the reduction in profits and the allocation of earnings to noncontrolling interests. Our net debt increased to 15,300,000 with headroom of 4,100,000, and Tim will go through a bit more of that in the financial review. The operating review for the year, we continue to deliver on our stra...