Staffline Group (STAF)

Sector:

Support

Index:

FTSE AIM All-Share

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

Staffline sees rise in H1 profits, shares surge

By Michele Maatouk

Date: Wednesday 28 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Staffline said on Wednesday that first-half gross profit was set to rise amid continued "strong" trading across the board, sending shares of the recruitment and training specialist sharply higher.
In an update for the six months to the end of June, the company said gross profit was expected to jump 14% on the same period a year ago to £39m, while revenue was set to increase 4.7% to £450.7m.

Staffline said recruitment GB performed strongly throughout the first half across food, logistics and e-commerce, with additional margin gains from new business wins in online food distribution and the effect of exiting legacy lower margin contracts.

"This was achieved despite challenges in the specialist driving division due to the widely reported acute labour shortages," it said.

In Ireland, recruitment delivered a "strong" six months, it said, amid good trading in the core Northern Ireland business, tight cost control and continued growth in the Republic of Ireland.

The company's PeoplePlus segment reported an "excellent" performance from its core 'employability' division, it added.

Non-executive chairman Ian Lawson said: "Trading has continued to be strong across the first six months of the year to 30 June 2021 and is ahead of expectations with all three of Staffline's core divisions delivering a solid performance in the first half.

"This, coupled with the benefits of the group's cost reduction measures implemented in 2020, in addition to securing new higher margin business, continues to underpin underlying operating profit growth."

Staffline expects to report a net cash position of £20.9m at the end of June, compared to net debt of £36.2m the year before. This was attributed mainly to net proceeds of £44.4m from an equity raise last month and VAT payment relief of £40.7m still to be repaid, among other things.

At 1330 BST, the shares were up 12% at 65p.

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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 45.75p
Change Today 0.60p
% Change 1.33 %
52 Week High 92.80
52 Week Low 38.90
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

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