Shares in staffing firm Empresaria Group PLC (AIM:EMR) fell 20% in early trading following an update that challenging market conditions experienced in 2023 are anticipated to continue into the first half of 2024.
The company highlighted the significant impact on permanent recruitment, with clients deferring hiring decisions and start dates to the new year.
As a result, Empresaria now expects its full-year adjusted profit before tax to be in the range of £3-£3.5 million.
The company said it has taken substantial action to reduce costs in 2023. It also remains focused on simplifying its operations and maintaining strong control of overheads.
At 8.26 am, the stock was off 7.5p at 32.5p.