Staffline Group (STAF)

Sector:

Support

Index:

FTSE AIM All-Share

45.75p
   
  • Change Today:
      0.60p
  • 52 Week High: 92.80p
  • 52 Week Low: 38.90p
  • Currency: UK Pounds
  • Shares Issued: 164.75m
  • Volume: 103,132
  • Market Cap: £75.37m
  • RiskGrade: 424

Staffline warns on profits amid ongoing accounting review

By Iain Gilbert

Date: Friday 31 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Recruitment and training group Staffline issued a profit warning on Friday, saying that costs related to an ongoing accounting review had dented its bottom line.
Staffline, which guided for a full-year adjusted operating profit of £10-12m back in December, said on Friday that it now expects the group to post adjusted underlying earnings that will be "materially below" its previous guidance.

The AIM-listed company said it had continued projects to improve its internal controls, including a rigorous internal review process, with a detailed review of its balance sheet.

"Although the year-end audit process, with our new auditors, Grant Thornton, is ongoing, we have already identified that it is appropriate to increase certain provisions and make further write-downs.

"Due to these net charges, the board now expects the group to report full-year adjusted operating profit (being profits before interest, tax and non-underlying charges) for the period ending 31st December 2019 materially below our previous guidance."

Staffline added that it maintains "a constructive relationship" with its lending banks and does not anticipate any covenant issues.

The firm said it was also actively considering certain strategic options to "significantly" reduce net debt during the first half of 2020.

As of 0950 GMT, Staffline shares had sunk 10.12% to 66.51p.

Email this article to a friend

or share it with one of these popular networks:


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 45.75p
Change Today 0.60p
% Change 1.33 %
52 Week High 92.80p
52 Week Low 38.90p
Volume 103,132
Shares Issued 164.75m
Market Cap £75.37m
RiskGrade 424

Staffline Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.50% above the market average51.50% above the market average51.50% above the market average51.50% above the market average51.50% above the market average
63.46% above the sector average63.46% above the sector average63.46% above the sector average63.46% above the sector average63.46% above the sector average
Price Trend
2.32% below the market average2.32% below the market average2.32% below the market average2.32% below the market average2.32% below the market average
4.50% above the sector average4.50% above the sector average4.50% above the sector average4.50% above the sector average4.50% above the sector average
Income Not Available
Growth
36.46% below the market average36.46% below the market average36.46% below the market average36.46% below the market average36.46% below the market average
40.19% below the sector average40.19% below the sector average40.19% below the sector average40.19% below the sector average40.19% 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 16-Aug-2022

Time Volume / Share Price
16:07 5,000 @ 45.95p
15:40 50,000 @ 45.60p
14:53 30,000 @ 45.15p
14:51 6,748 @ 45.00p
13:40 2,000 @ 45.01p

Staffline Group Key Personnel

CEO Albert Ellis
CFO Daniel Quint

Top of Page