sunday mail11 Nov 2012 18:49
Staffline Group puts unskilled or semi-skilled workers into temporary jobs, ranging from salad washing to lorry driving. The firm is reaping benefits as big employers use more temporary staff and chief executive Andy Hogarth is full of plans for the future. The company steers clear of high-end recruitment, focusing instead on jobs that are essential to everyday life but require little more than basic training. Initially, Staffline operated primarily from High Street shops. Over the past few years, however, it has moved increasingly in to customers' premises, such as warehouses, distribution centres and factories. This enables it to forge longer-term relationships with customers and keeps its costs low. Staffline is one of the biggest operators in its field but it still has a market share of just 5%, so there is plenty of room for expansion, particularly as smaller rivals are increasingly willing to sell out. The group has made three acquisitions this year and will probably continue in this vein, while also developing organically. This year, for example, it moved into call centre recruitment, supplying workers for an existing customer. This has proved successful and will almost certainly be replicated. Staffline is doing well despite continued economic uncertainty, increasing customer numbers and doing more business with each. Hogarth has just finished drafting his plans for the future and is confident about prospects. At 239 1⁄2p, the shares are a buy, says The Financial Mail on Sunday's Midas column.