EMPRESARIA GROUP PLC (EMR) — Interim Results Webinar

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to the EMPRESARIA GROUP PLC interim 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 where it 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, Ronnie Driggs. Good afternoon to you. Good afternoon, and thank you very much for joining us today. So we're we're gonna start with the financial overview today. Challenging market conditions continued throughout the first half of twenty twenty four, which did impact net fee income. On a constant currency like for like basis, the group reduced by 9% to 25,300,000. Permanent placement was down 21%. Temporary contract was down 1%, and offshore services were down 10. Adjusted operating profit was down 8%, constant currency like for like with reported figure down 23% to 1,000,000, reflecting the impact of a reduction in net fee income offset by the ongoing benefits of cost actions, which delivered year on year cost reductions of 2,300,000. Adjusted diluted loss per share of 1 0.2 p reflecting the reduction in profits and the allocation of earnings to non controlling interests. And our adjusted net debt increased to 13,500,000 with headroom of 10,500,000. The industry wide weakness in demand that we experienced in late twenty twenty two and throughout 2023 has continued through the first half of twenty twent...