(Alliance News) - Recruiter Staffline Group PLC on Monday said its first-quarter trading topped internal expectations as the UK jobs market showed signs of life after being battered by Covid-19.
Shares in the Nottingham-based company were 10% higher at 76.20 pence each in London on Monday morning
Revenue during the period to March 31 rose 0.2% annually to GBP227.9 million from GBP227.5 million. Underlying operating profit more than doubled to GBP1.4 million from GBP600,000 a year earlier.
Staffline said trading was "ahead of management expectations", giving the firm "increased confidence in the full year".
Staffline noted restructuring work in 2020 generated GBP15 million in savings.
"The board remains confident in the outlook for the group and anticipates that trading for the current financial year is likely to be ahead of expectations," the company added.
By Eric Cunha; ericcunha@alliancenews.com
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Staffline (STAF)