Last checked at 30 Apr 2019 07:00
30 April 2019
STAFFLINE GROUP PLC
("Staffline" or "the Group")
Company Update
Staffline provides the following update regarding the publication of its final results for the year ended 31 December 2018.
As set out in the Company's announcement on 30 March 2019, following allegations by a third party in respect of invoicing and payroll practices within the Group's Recruitment division, a review was instigated including the appointment of independent legal advisers as well as instructing the Group's auditors to extend their scope of work.
The independent legal report has now been delivered in full and there are no further matters to report beyond those in the key findings interim report, which were described in the announcement of 30 March 2019. Significant progress has been made on the extended audit and the Board continues to expect to report, subject to audit completion, an underlying trading performance for the year ended 31 December 2018 in line with expectations.
The key outstanding matter in finalising the results relates to the Group's historical compliance with National Minimum Wage Regulations 2015. This is a complex area and management, in conjunction with HMRC and supported by an independent advisor, are assessing the significant amount of historic data and transactions, which will then be subject to audit. Once the work is completed and audited, Staffline will release its preliminary results and shareholders will be updated as appropriate.
For further information, please contact: |
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Staffline Group plc www.stafflinegroupplc.co.uk Chris Pullen, Chief Executive Officer Michael Watts, Group Chief Financial Officer | via Vigo Communications |
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Liberum NOMAD and Joint Broker www.liberum.com Steve Pearce / Joshua Hughes | 020 3100 2222 |
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Berenberg Joint Broker www.berenberg.com Chris Bowman / Toby Flaux | 020 3207 7800
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Vigo Communications Financial PR www.vigocomms.com Jeremy Garcia / Antonia Pollock / Charlie Neish | 020 7390 0230 staffline@vigocomms.com
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Note for Editors
About Staffline - Recruitment, Training and Support
Enabling the Future of Work™
Staffline is the UK's market leading Recruitment and Training group. It has two divisions:
Recruitment Division
The UK's leading provider of flexible blue-collar workers, supplying over 60,000 staff per day to c. 1,500 private sector clients, across a wide range of industries including agriculture, drinks, driving, food processing, logistics and manufacturing. It operates from over 400 locations in UK, Eire and Poland.
Its world leading Customer Experience platform provides optimised customer-based staffing management solutions whilst providing market-leading levels of job satisfaction for workers.
PeoplePlus Division
The leading adult skills and training provider in the UK, delivering apprenticeships, adult education, prison education and skills-based employability programmes across the country.
Education and Training - market leading provider of training courses for private sector Apprenticeships (both Levy and non-Levy) and Government funded Adult Skills programmes.
Employability - top quartile performer, supporting Government programmes providing back-to-work education and support services to the unemployed.
Justice and Community - education and training services for prisoners and ex-offenders, as well as individual support services for carers and people with disabilities, both at home and in the work place.