Pre-tax profit at recruitment firm Empresaria slumped by 71% from £6.5m to £1.9m in 2011. The major reason for this was lower profits in Germany, where new collective bargaining agreement required the group to raise pay rates for some of its temporary works and to incur significant legal fees. Meanwhile revenue rose 1% from £206.8m to £208.9m with growth held back by falling sales in the UK.
"Global economic conditions remain uncertain and, while we continue to see generally good candidate and client demand, confidence is fragile and necessitates a cautious approach, especially in the UK and Continental Europe," said Chairman Tony Martin. The proposed dividend was unchanged at 0.35p per share. Shares were down 3.85% at 25p.
Clean energy projects group Camco has won - as part of a joint venture with Tanzania-based solar contractor Rex Investment - a contract worth $4.7m to bring solar power to off-grid communities in rural Tanzania. "While industrialized countries are trying to rethink or refit their old coal-fired plants, much ofAfrica could potentially leapfrog that stage and move straight to renewable energy generation," said Managing Director Jeff Felton. Shares rose 4.35% to 6p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
ECR Minerals highlights that THEMAC Resources, a company in which it owns a 19% stake, has announced a increase in the milling rate at its 'Copper Flat' copper-molybdenum-gold-silver project in New Mexico. The milling rate has been hiked to 25,000 short tons per day (tpd), from 17,500 tad previously. Results of testwork suggest that mill recoveries for copper and silver can be increased above historical levels, which currently exceed 90%. Gold and molybdenum recoveries can also be improved.
BC
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
