22 May 2024
Staffline Group plc
("Staffline", the "Company" or the "Group")
AGM Trading Update
Staffline, the recruitment and training group, is pleased to provide the following trading update ahead of its Annual General Meeting ("AGM") at 9.30am today at which the following statement will be made:
Trading and cash
"The positive momentum reported across the final quarter of 2023, has continued into the first four months of 2024. In particular, the Group is encouraged with the performance of its recruitment businesses, which supported strong trading cashflow performance, that is ahead of management expectations.
Recruitment GB has seen a year-on-year uplift in temporary worker hours, up 8.6% for the first 19 weeks of 2024 compared to the prior year, as a result of new sites awarded with Tesco, Sainsbury's, GXO Logistics and Wincanton. Recruitment Ireland has reported permanent fees up 25% in the first quarter and PeoplePlus remains cautiously optimistic in its bid pipeline.
Therefore, the Board remains confident that the Group is on track to deliver results in line with management expectations for the full year."
For further information, please contact:
| Staffline Group plc Albert Ellis, Chief Executive Officer Daniel Quint, Chief Financial Officer | via Vigo Consulting |
| | |
| Liberum (Nominated Adviser and Broker) Richard Lindley / Satbir Kler | 020 3100 2222 |
| | |
| Zeus (Joint Broker) David Foreman (Investment Banking) Nick Searle (Sales) | 020 3829 5000 |
|
| |
| Vigo Consulting (Financial PR) Jeremy Garcia / Verity Snow | 020 7390 0230 Staffline@vigoconsulting.com
|
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
The Recruitment GB business is a leading provider of flexible blue-collar workers, supplying c.30,000 staff per day on average from around 400 sites, across a wide range of industries including supermarkets, drinks, driving, food processing, logistics and manufacturing.
Recruitment Ireland
The Recruitment Ireland business is a leading end to end solutions provider operating across multiple industries, ten branch locations and ten onsite customer locations, supplying c.4,500 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across public and private sectors throughout the island of Ireland.
PeoplePlus Division
The PeoplePlus business is a leading provider of employability, adult training, prison education and skills-based programmes across the country to those who are disadvantaged in society. In addition, it delivers Community Service support as well as social value services and expertise to employers.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
