Staffline Group (STAF)

Sector:

Support

Index:

FTSE AIM All-Share

 39.45p
   
  • Change Today:
      0.000p
  • 52 Week High: 92.80
  • 52 Week Low: 38.64
  • Currency: UK Pounds
  • Shares Issued: 165.72m
  • Volume: 27,688
  • Market Cap: £65.38m
  • RiskGrade: 424

Staffline swings to loss in H1 amid 'challenging' conditions

By Michele Maatouk

Date: Tuesday 17 Sep 2019

LONDON (ShareCast) - (Sharecast News) - Recruiter Staffline said on Tuesday that it swung to a profit in the first half as it warned on full-year profits amid "challenging" trading conditions, with Brexit uncertainty weighing on consumer confidence.
In the six months to the end of June, the company swung to a pre-tax loss of £7.7m from a profit of £10.5m in the first half of 2018 even as revenue rose 11.1% to £534.6m. As previously flagged, Staffline pointed to a slowdown in new contract momentum, which it largely attributed to the impact of the delay in publication of the 2018 annual results.

Staffline shares were suspended earlier this year after its auditor, PWC, delayed the full-year results to investigate allegations that the company had underpaid workers.

The group said it would not be paying a dividend, having suffered a number of trading headwinds in the first half of 2019 and recognised "significant" one-off exceptional costs last year.

Staffline said trading remains "challenging" and it now expects to deliver full-year adjusted operating profit of around £20m. It said weak consumer confidence has weighed on its end customers, particularly in food and retail, and this has had a direct impact on demand for its services.

Chief executive officer Chris Pullen said: "The first six months of 2019 presented a number of unforeseen challenges for Staffline. The delay in the publication of the 2018 final results created uncertainty, which has been compounded by a challenging trading environment. As a consequence of this and the transformation of PeoplePlus, this year's result will be more heavily weighted than usual towards the final quarter.

"Brexit has become the source of unprecedented uncertainty for our end customers and is increasingly weighing on consumer confidence. The performance of our end customers in food and retail has a direct impact on the demand for our services. Despite this, we remain convinced that the challenges the group is currently facing are short-term and that the business is sufficiently differentiated in its service proposition to return to future growth."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Staffline Group Market Data

Currency UK Pounds
Share Price 39.45p
Change Today 0.000p
% Change 0.00 %
52 Week High 92.80
52 Week Low 38.64
Volume 27,688
Shares Issued 165.72m
Market Cap £65.38m
RiskGrade 424

Staffline Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.47% above the market average63.47% above the market average63.47% above the market average63.47% above the market average63.47% above the market average
73.33% above the sector average73.33% above the sector average73.33% above the sector average73.33% above the sector average73.33% above the sector average
Price Trend
26.79% below the market average26.79% below the market average26.79% below the market average26.79% below the market average26.79% below the market average
22.52% below the sector average22.52% below the sector average22.52% below the sector average22.52% below the sector average22.52% below the sector average
Income Not Available
Growth
36.12% below the market average36.12% below the market average36.12% below the market average36.12% below the market average36.12% below the market average
42.06% below the sector average42.06% below the sector average42.06% below the sector average42.06% below the sector average42.06% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Staffline Group Dividends

  Latest Previous
  Interim Final
Ex-Div 11-Oct-18 31-May-18
Paid 13-Nov-18 03-Jul-18
Amount 11.30p 15.70p

Trades for 08-Aug-2022

Time Volume / Share Price
13:20 104 @ 38.81p
13:14 1,262 @ 39.28p
10:12 550 @ 38.64p
08:39 12,886 @ 38.83p
08:39 12,886 @ 38.83p

Staffline Group Key Personnel

CEO Albert Ellis
CFO Daniel Quint

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