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23 November 2009
Staffline Group Plc. (STAF:LSE), the temporary and permanent staffing agency, said in a trading update that the Board of Directors expect earnings for the year ended 31 December 2009 to be ahead of expectations.
The company said that market conditions continue to be extremely challenging but the first ten months of 2009 have been more successful than originally anticipated despite the economic backdrop in many of its trading sectors.
Operational savings have included rationalisation of the branch network, headcount reduction of 20% and a reduction in central office costs.
Chairman and CEO, Andy Hogarth, said "our strong trading performance provides us with the confidence to continue to review acquisition opportunities as we look to invest further in our expansion."
Staffline operates in the United Kingdom. Subsidiaries include Staffline Recruitment Limited and Onsite Partnership Limited.
In early trading Staffline's shares were up by 5.97% to 64.64 Pence.