Nottingham-based recruitment firm Staffline (STAF: LSE), has announced its full year results for the year ended 31 December 2015.

Revenues for Staffline were up 40% to GBP 702.2 million compared to GBP 503.2 million in 2014. Group gross profit was up 34% to GBP 86.8 million from GBP 64.8 million in 2014. The growth comes during a year when Staffline acquired A4e (now PeoplePlus),  Milestone Operations, and Diamond Recruitment in April, October and September 2015, respectively.

Sales from Staffing Services rose by 26.7% in 2015 to reach GBP 554.5 million, compared to GBP 437.452 the previous year. In the same statement, the Group indicated that hese strong results were driven by organic growth and also by the acquisitions of both Diamond Recruitment in Northern Ireland and Milestone Operations towards the end of the year. Gross profit for Staffing Services increased by 21.5% to 46.9 million, compared to GBP 38.6 million in 2014.

“2015 was another transformational year of organic and acquisitive growth for Staffline,” Andy Hogarth, Chief Executive of Staffline, said. “Our work to position the group at the forefront of ethical standards and compliance has resulted in a record number of OnSites with new and existing customers and has also differentiated us with our now enlarged Employability division, now called PeoplePlus, having completed the integration of A4e.  We are confident that our strategic initiatives in both of our divisions will continue to support our momentum and as a result we expect to exceed current market expectations for 2016 and continue to achieve strong returns for our shareholders.”

Additionally, underlying profit (before tax, amortisation of acquired intangible assets, acquisition and exceptional reorganization) was up 52% to GBP 28.3 million compared to GBP 18.6 million in 2014.

Moreover, Staffline is on track to meet its five-year growth ambition of GBP 1 billion in sales by 2017.

 Today Staffline Group PLC (STAF:LSE) traded at GBP 13.90, up 5% on the day but 17.07% below its 52-week high of GBP 16.40, set on 9 November, 2015. This means the company is valued at GBP 359.35 million.