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Empresaria reports 5% decrease in NFI in Q1 2020

Empresaria has released a trading update at its Annual General Meeting today.

The company has reported that it delivered operating profit growth in each of the first three months of 2020, despite net fee income being down 5% on the previous year. This is mainly due to the impact of COVID-19, which has also seen net fee income fall 30% on the prior year in April 2020. The company, however, did remain profitable during this month.

Empresaria has acquired a further 14.2% of shares in ConSol Partners, meaning its total interest is now 96.7%.

Tony Martin, chairman, said, “Despite the worldwide impact of COVID-19, the Group continues to benefit from the diversity of our operations.  While some areas, particularly our Professional sector, which includes our aviation, domestic services, corporate events and new home sales sectors, have seen very significant impact from COVID-19, others, such as our IT sector and our logistics business in Germany, have continued to perform well.

“The situation across the globe continues to develop and we are encouraged by the positive developments of countries exiting lockdown and the selective reopening of businesses and general return of economic activity.  While it is still not possible to provide any meaningful guidance, we continue to believe that the actions we have taken and continue to take will leave us well placed to successfully come through the current situation and deliver on our long-term growth ambitions.”

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