Empresaria’s half year trading update is reassuring. The Group has remained profitable at a PBT level in both Q1, which was also ahead of 2019, and Q2 despite the impact of COVID-19. Net fee income decreased by 5% in Q1 and by 39% in Q2 (-22% in H1). The impact of this decrease was offset by swift actions from management to control costs, with operating costs reduced by 30% YoY and 23% QoQ in Q2. The Group has accelerated changes to its operating models that will result in a more effici
22 Jul 2020
Profitable in Q2 and improved financial strength
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Profitable in Q2 and improved financial strength
Empresaria Group plc (EMR:LON) | 38.0 0 0.0% | Mkt Cap: 18.9m
- Published:
22 Jul 2020 -
Author:
Greg Poulton -
Pages:
4
Empresaria’s half year trading update is reassuring. The Group has remained profitable at a PBT level in both Q1, which was also ahead of 2019, and Q2 despite the impact of COVID-19. Net fee income decreased by 5% in Q1 and by 39% in Q2 (-22% in H1). The impact of this decrease was offset by swift actions from management to control costs, with operating costs reduced by 30% YoY and 23% QoQ in Q2. The Group has accelerated changes to its operating models that will result in a more effici