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UK – Staffline’s trading update positive

06 January 2014

Staffline Group PLC (STAF: LSE) the Nottingham-based recruitment firm confirmed that earnings for the full year will be in line with market expectations with good levels of growth in activity being seen across all divisions of the business driven by continued strong demand for services.

Full results are expected to be released at the end of January 2014 for the twelve months ending 31 December 2013. However, in the company’s most recent financial statement, they reported a +14.2% increase in revenue for the six months ending 30 June 2013, compared with the previous year.

In December 2013, the company acquired Leicestershire-based specialist recruitment business Magna Recruitment for an undisclosed sum. This acquisition is part of the company’s five-year strategic growth plan aimed at broadening their market reach and increasing the scale of their divisions. 

In trading today, the company’s share price rose by +2.6% to £5.65, an increase of +92% compared with a year ago. Based on its current share price, the company has a market value of £143.95 million.  

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