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Recruitment group Empresaria reported a sharp decline in half-yearly profits as Brexit, a weakening German economy and increased geo-political risk kept a lid on growth.
For the six month period ended 30 June 2019, profit before tax fell 41% to £2.3m and net fee income rose 7% to £36.3m.
The company also highlighted an increase costs as a headwind that weighed on profits during the first half of the year.
'As a result of this and a higher central cost base following the investments made in the second half of 2018, adjusted operating profit is down 14% to £4.3m,' the company said.
Despite the lower profit reported in the first half, 'we remain on track to meet full year market expectations for profit,' the company said.
At 8:20am: (LON:EMR) Empresaria Group PLC share price was -1.5p at 62.5p