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Staffline Group plc, the specialist supplier of blue collar temporary and contract staff, has issued a trading update for the six months ended 30th June 2009. Full interim results will be issued on 8th September 2009.
According to Staffline Chairman Andy Hogarth â€œWe have performed well in the first half given the economic background. The market landscape continues to change rapidly and Staffline has increased market share despite intense competitionâ€VbCrLf.
Staffline provides a fully outsourced service, managing the temporary recruitment function of its clients on their premises. The agency has 112 on-site locations nationwide as well as a network of 13 industrial branch offices.
â€œThe current financial year has seen the full benefit of the new on-sites opened during the second half of 2008 and some additional client wins. Our business remains strongly cash generative and our financial position has been further improved during the period. At the half year end our net debt stood at £4.3 millionâ€VbCrLf (30th June 2008: £5.8 million, 31st December 2008: £6.1 million).
During the first half year Staffline also completed the acquisition of The Workplace, a Yorkshire based recruitment agency, which provides temporary recruitment and HR consultancy services.