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UK – Staffline trading update in line with expectations

04 July 2017

Staffline Group (STAF: LSE), the UK-based staffing and employability organization provided a trading update for the six months ended 30 June 2017 and stated that current trading is in line with market expectations.

According to Staffline, the group remains confident of its growth prospects, with the “Burst the Billion” £1 billion revenue target still on track for the current year.

Earlier this year, the company made a number of acquisitions including Brightwork Limited, recruitment business based in Scotland, as well as Oak Recruitment, a recruitment firm based in Ireland. The company also tabled a bid to acquire NHS Professionals, the government-owned agency that supplies doctors and nurses to hospitals across the UK.

“The Staffing division has continued to perform well with strong demand for its services from both new and existing customers,” the company said in a statement. “The number of OnSites continues to grow. We are still seeing no change in demand following the EU Referendum Vote and the group continues to source record numbers of workers to supply this demand. In PeoplePlus, the Group’s Employability, Training and Skills division, we are seeing the benefits of the reorganisation of the division in 2016. The new business pipeline remains strong and we continue to bid for and win new contracts.”

“The Board looks forward to providing a further update at the time of the June 2017 Interim Results, which will be announced on Wednesday 26 July 2017,” the company said.

In trading today Staffline Group PLC traded at £1,314.00, down 0.45% on the day and 9.49% below its 52-week high of £1,451.72, set on 31 May 2017. Based on its current share price the company has a market value of £367.61 million.