4th Sep 2013 10:08
LONDON (Alliance News) - Recruitment firm Staffline Group PLC Wednesday reported an increase in pretax profit and revenue for the first half, and it reduced its level of debt.
The company, which provides temporary and permanent staff to businesses, posted pretax profit of GBP3.4 million for the period ended 30 June, up from GBP2.8 million last year, while revenue increased 14% to GBP187.2 million, from GBP163.9 million in 2012.
Net debt stood at GBP2.7 million, down from GBP8.7 million last year.
Staffline said it had added four sites to its OnSite unit, which supplies temporary and permanent labour to the distribution centres of major high street supermarket chains.
"Staffline continues to trade ahead of the broader recruitment sector with demand for our Onsite model and broader outsourcing services underpinning growth," Chief Executive Andy Hogarth said in a statement.
"We are still seeing a strong pipeline of new business enquiries from both new and existing customers and believe increasing regulatory and budgetary pressures will continue to drive strong levels of demand for our services."
The board declared a 22.6% increase in the interim dividend to 3.8 pence, from 3.1 pence.
Staffline shares were trading at 533.95 pence Wednesday morning, up 18.95 pence, or 3.7%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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