29th Jan 2014 08:51
LONDON (Alliance News) - Recruitment and outsourcing company Staffline Group PLC Wednesday reported higher profits and revenues for 2013 as it added new clients and retained old ones, and it said it was on track to more than double sales over the next three years.
In a statement, the company also said trading had got off to a strong start this year and it said it was increasing its total dividend for 2013 by 23.5% to 10.0 pence as a sign of its confidence in the business and future trading prospects. The final dividend will be 6 pence.
The company said pretax profit rose to GBP8.6 million in 2013, from GBP8.5 million in 2012, while net profit rose to GBP7.4 million, from GBP6.4 million. Its revenues increased 13.4% to GBP416.2 million, from GBP367.0 million in 2012.
It said it has now implemented its five-year growth strategy and is on track to make GBP1 billion in sales in 2017.
"Our growth strategy is now well advanced and is due to have a positive impact on the Group in the current year. Looking ahead, we have a clear strategy to grow the Group and remain focussed on broadening our service offering whilst further enhancing shareholder value," Chief Executive Andy Hogarth said.
Staffline said it has started 2014 strongly, with a pipeline of confirmed customer orders. It said the majority of its new divisions are in advanced talks with potential customers and it's confident those new units will add to profits this year. It said it also well placed to win new contracts in its Welfare business, which provides services under government return-to-work programmes.
Staffline's shares were up 10.7% at 543.905 pence early Wednesday, one of the biggest gains on AIM.
By Steve McGrath; [email protected]; @SteveMcGrath1
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