26 June 2015 – acquisition of minority interest
The company has increased its interest in the issued shares of PT Monroe by a further 10%. Empresaria now holds a 90% interest in PT Monroe. The consideration, payable in cash, is £0.3m. The latter specialises in executive search in Indonesia and forms part of the broader Monroe brand servicing clients across South East Asia and Central and Southern America. In the year to 31 December 2014, PT Monroe generated revenue of £1.2m and profit before tax of £0.5m. We continue to rate the shares as a BUY.