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View All NewsWorld – Staffing 360 Q4 revenue up 24.6% while loss narrows
Staffing 360 Solutions Inc. (NASD: STAF), a staffing provider operating in the US and UK, reported fourth-quarter revenue rose 24.6% to $74.1 million.
| (USD thousands) | Q4 2018 | Q4 2017 | % change |
| Revenue | 74,091 | 59,476 | 24.6% |
| Gross profit | 12,345 | 11,914 | 3.6% |
| Gross margin | 16.7% | 20.0% | N/A |
| Net loss | (1,406) | (7,324) | N/A |
Staffing 360 also published its full year results.
| (USD thousands) | FY 2018 | FY 2017 | % change |
| Revenue | 260,926 | 192,650 | 35.4% |
| Gross profit | 48,304 | 36,741 | 31.5% |
| Gross margin | 18.5% | 19.1% | N/A |
| Net loss | (6,501) | (18,491) | N/A |
In July 2018, the company announced that it had acquired Clement May Limited, a recruitment firm based in London with offices in Malaysia and South Africa.
Brendan Flood, Chairman and Chief Executive Officer of Staffing 360, commented, “2018 was a very successful year by any standard. We continue to grow, we continue to improve already positive EBITDA and Adjusted EBITDA (up 21.8% for FY 2018) and we continue to march toward net profit, which we expect to happen in the current year.”
In trading yesterday Staffing 360 Solutions shares closed at $2.16, up 10.20% on the day and 89.47% above the 52 week low of $1.14 set on 20 June 2018. Based on its current share price the company has a market value of $17.59 million.