Staffline Share News (STAF)

- Solid full-year progress- Five-year growth strategy on track- Company lifts dividend payment 23.5 per centNottingham based recruitment and outsourcing group Staffline reported a solid set of full-year figures, helped by acquisitions in 2012 and as it won new customers.The group, which specialises in food processing, manufacturing, e-retail, driving and logistics recruitment, said revenues rose 13.4% to £416.2m in the year ended December 31st 2013 while adjusted group operating profit jumped 15.6% to £12.8m.Reported pre-tax profit was up 0.5% to £8.6m.Adjusted earnings per share climbed 21.6% to 46.1p while adjusted pre-tax profit increased 16.1% to £12.5m.Staffline, which has operations in the UK, Ireland and Poland, said its five-year growth strategy was on track to achieve a sales target of £1bn by 2017.Chief Executive Andy Hogarth said: "The core business continues to generate strong levels of interest from both new and existing customers. Our growth strategy is now well advanced and is due to have a positive impact on the group in the current year."Looking ahead, we have a clear strategy to grow and remain focussed on broadening our service."Underlining its confidence in future trading the group is recommending a final dividend of 6.2p and a total dividend of 10.0p, up 23.5% from the year before.The group recorded net cash of £4.9m at the year end compared to net debt of £4.6m the year before.CJ