1 June 2016 – acquisition of minority interest
Empresaria has acquired a further 10% interest in Monroe Consulting Group Co. Ltd (Thailand). It now holds a 70% interest in Monroe and the consideration, payable in cash, is £0.2m. Monroe specialises in executive search in Thailand, forming part of the broader Monroe brand servicing clients across South East Asia and Central and Southern America. In the year ended 31 December 2015 Monroe generated revenue of £1.3m and profit before tax of £0.4m. This appears a sensible move and although it will not have a huge impact is a further positive step. The shares are still not expensive at the current level. BUY.