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Empresaria forecast lower profit, net fee income as virus impact bites
StockMarketWire.com
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Staffing group Empresaria said it expected full-year profit and net fee income to be lower this year ongoing to the impact of the Covid-19 pandemic.
For the year ending 31 December 2020, the company said it expects net fee income will be in the range of £52m to £55m and adjusted pre-tax profit in the range of £4.4m to £4.9m, down from £74.5 million and £9.3 million year-on-year, respectively.
Evidence of recovery was being seen across many parts of the group but this remained slow in some cases, while costs had increased over recent months as usage of furlough or similar schemes had been reduced and demand had started to return, the company said.
'We would expect net debt to continue to return towards pre-COVID levels as net fee income recovers,' the company said.
At 8:39am: (LON:EMR) Empresaria Group PLC share price was 0p at 42.5p
Story provided by StockMarketWire.com
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