Empresaria Group publishes trading update & notice of results
Joost Kreulen (pictured), Chief Executive of Empresaria, said, "We are encouraged by the progress of the Group, with underlying profit growth from all of our reporting regions. We are particularly pleased with the performances in Chile and Singapore, where losses in 2012 have been turned into profits in 2013.
The restructuring of operating units in Germany has been completed and no new worker claims can arise for retrospective pay, as they are now time barred. The business in Germany has been stabilised, is yielding an increase in underlying profitability and is now in a position to benefit from the improving economic conditions in the region.
We are looking at selective investment opportunities to expand the geographic reach of our operations either by way of investment in existing brands or the acquisition of complementary brands and expect to see continued organic growth from our existing businesses."