Staffing 360 Solutions Inc., a staffing provider with operations in the UK and US, in a pre-release of earnings reported revenue rose approximately 9% to US$50 million (£37.3 million) in its fiscal third quarter ended Sept. 30. This includes US$6 million (£4.5 million) from acquisitions.

Gross profit grew 11% to reach €9 million and the gross margin increased to 18.5% from 18.3%. Adjusted EBITDA is expected to be $2 million, a 25% increase over $1.7 million in the fiscal third quarter of 2016.

Staffing 360 expects net loss attributable to common stock to be approximately US$5.3 million (£4.0 million) for the third quarter, up from US$900,000 (£671,530) in the year-ago period. This includes US$5.6 million (£4.2 million) of noncash charges relating to the refinancing of the balance sheet as well as depreciation and amortization of intangible assets, and approximately US$900,000 (£671,530) of acquisition-related and other nonrecurring expenses.

Full results are expected in mid-November.

Two acquisitions completed in September — CBS Butler Holdings Limited in the UK and firstPRO Georgia in the US — are included in these results for only a few weeks. The full impact of these acquisitions will be reflected in the fiscal fourth quarter of 2017.

“The third quarter was a transformational period in the history of Staffing 360 Solutions,” said Executive Chairman Brendan Flood. “We completed two acquisitions, bringing our annualized revenues to $265 million and materially refinanced our balance sheet, improving our working capital position and ability to generate positive operating cash flow.”