Last checked at 2 Jun 2021 13:01
2 June 2021
Staffline Group plc
("Staffline", the "Company" or the "Group")
Restart Contract Wins for PeoplePlus
Staffline (AIM: STAF), the recruitment and training group, provides the following update regarding contracts with prime suppliers in relation to the Department for Work and Pensions Restart programme, as previously disclosed as being in negotiation in the 'Proposed Placing and Subscription to raise £44 million, Proposed Open Offer to raise £4.4 million and Proposed Debt Refinancing' announcement released by the Company on 21 May 2021.
The Board is pleased to announce that PeoplePlus, the Group's leading adult skills and training division, has concluded three contracts with two of the UK's leading outsourcing providers. The combined value of the contracts is material to PeoplePlus, representing an opportunity of up to a maximum of £90m over four years in aggregate revenue at the higher rate performance outcome and are expected to commence in H2 2021.
As previously noted, these contracts will not impact expectations for the current financial year and will underpin PeoplePlus' revenue pipeline for 2022 and beyond.
Albert Ellis, Chief Executive Officer of Staffline, commented:
"We are delighted to have concluded these contracts to support the Department for Work and Pensions Restart programme. These contracts underpin PeoplePlus's performance in the medium-term, building a diverse and multi service portfolio in line with our strategy and reinforcing our reputation as one of the UK's leading adult skills and training providers."
Simon Rouse, Managing Director of PeoplePlus, added:
"We look forward to working with our employability partners to deliver the Restart programme in supporting the long-term unemployed in finding work. PeoplePlus's purpose is to help people transform their lives, get jobs and keep jobs and develop their careers. Restart gets to the heart of that purpose."
For further information, please contact:
Staffline Group plc www.stafflinegroupplc.co.uk Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer | via Vigo Consulting |
Liberum (Nominated Adviser and Broker) www.liberum.com Bidhi Bhoma / Richard Lindley / William Hall / Christopher Whitaker | 020 3100 2222 |
Vigo Consulting (Financial PR) www.vigoconsulting.com Jeremy Garcia / Antonia Pollock | 020 7390 0230 Staffline@vigoconsulting.com
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About Staffline - Recruitment, Training and Support
Enabling the Future of Work™
Staffline is the UK's market leading Recruitment and Training group. It has three divisions:
Recruitment GB
Staffline is the UK's leading provider of flexible blue-collar workers, supplying approximately 40,000 staff per day on average to around 450 client sites, across a wide range of industries including agriculture, supermarkets, drinks, driving, food processing, logistics and manufacturing.
Recruitment Ireland
The recruitment Ireland business is a leading end to end solutions provider operating across twenty industries, ten branch locations, fifteen onsite customer locations and offering RPO, MSP, temporary and permanent solutions across the island of Ireland.
PeoplePlus Division
Staffline is the leading adult skills and training provider in the UK, delivering adult education, prison education and skills-based employability programmes across the country.