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6 Jul 2010 07:00
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For immediate release 6 July 2010
STAFFLINE GROUP PLC
("Staffline" or "the Group")
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Half Year Trading Update
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Staffline, a leading provider of recruitment and outsourced HR services to industry, today issues a trading update for the six months ended 30 June 2010 and its notice of results.
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Performance in the first half of 2010 has been in line with management's revised expectations, the current financial year benefiting from the impact of a number of new business wins, recent acquisitions and increased demand from existing clients.
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The business remains strongly cash generative and has reinvested some cash flow in buying two businesses, in line with Staffline's strategy of making selective acquisitions to broaden its revenue streams, thereby strengthening its position as a provider of value added business services in the human resource arena.
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Notice of results
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Staffline intends issuing its interim results for the six months ended 30 June 2010 on 06 September 2010.
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Andy Hogarth, Staffline's Chairman, said:
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"We have had a strong start to trading in the first half of the year in our core business and are benefiting from a number of new business wins, OnSites opened in late 2009 and recent acquisitions. Our strong trading performance provides us with the confidence to continue to look for similar acquisition opportunities to enhance shareholder value.
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Whilst the market continues to be challenging we remain confident of a satisfactory outcome for the year as a whole."
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- Ends -
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For further information, please contact: |
www.staffline.co.uk |
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Staffline Group plc |
0115 950 0885 |
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Andy Hogarth, Chairman and Chief Executive |
0793 1175775 |
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Tim Jackson, Finance Director |
0772 0458626 |
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Smithfield |
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Debbie Potts / Rebecca Whitehead |
0207 903 0638 |
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Altium |
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Phil Adams / Paul Lines |
0845 505 4343 |
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About Staffline
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Staffline Group plc's main business is as a specialist supplier of "blue collar" temporary and contract staff to industry. It provides a fully outsourced service, managing the temporary recruitment function of its clients on their premises, at 129 OnSite locations nationwide and also has a network of 14 industrial branches. In addition, the Group has other branded businesses including Techsearch which operates in engineering recruitment and related sectors and Peter Rowley which provides training and other business services. The Group, which is managed from a head office in Nottingham, was founded in 1986 and was admitted to AIM in December 2004 (Ticker: STAF.L).
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