Staffline Recruitment Group plc
09 January 2006
Under embargo until 7am 9 January 2006
STAFFLINE RECRUITMENT GROUP PLC
Year End Trading Update
Staffline Recruitment Group plc, a leading provider of recruitment and
outsourced HR services to industry, today issues a trading update for the year
ended 31 December 2005.
The Board is pleased to report a strong Group operating and financial
performance for the full year, with both sales and profit anticipated to be
significantly ahead of last year and in line with its expectations.
Our OnSite division, which manages the temporary recruitment function of its
clients and represents approximately 60% of Group turnover, has seen strong year
on year growth driven by a combination of new client wins and an increase in the
number of sites Staffline manages for existing clients. The new OnSites added
during the year are all performing in line with or ahead of management's
expectations.
Our Staffline industrial branch division has had a satisfactory performance and
continues to incubate new OnSites.
Our Techsearch division, which represents less than 10% of Group turnover and
specialises in temporary and permanent placements in the engineering and FMCG
sectors, has performed exceptionally well with increased sales, the benefit of
the operational gearing in the business, and improved efficiencies leading to
strong growth in operating profit.
Staffline intends to issue its preliminary results for the year ended 31
December 2005 on Wednesday 1 March 2006, at which time a further update on
current trading will be provided.
Commenting on the trading update, Andy Hogarth, Staffline's Managing Director,
said:
'Staffline has delivered a strong performance during 2005. In 2006, we will
benefit from the full annualised effect of the OnSites won during 2005 and our
current pipeline of OnSite prospects is stronger than it has ever been. We,
therefore, remain confident of continued strong progress in the current year and
thereafter.'
- Ends -
For further information, please contact: www.staffline.co.uk
Staffline Recruitment Group plc 0115 950 0885
Andy Hogarth, Managing Director
Carole Harvey, Finance Director
Smithfield 020 7360 4900
Katie Hunt / Sarah Richardson / Reg Hoare 07884 494112
About Staffline
Staffline Recruitment Group plc's main business is as a specialist supplier of
'blue collar' temporary and contract staff to industry. It provides a fully
outsourced service, managing the temporary recruitment function of its clients
on their premises, at over 50 OnSite locations nationwide and also has a network
of 17 industrial branches. In addition, the Group has a smaller but growing
division called Techsearch which specialises in temporary and permanent
engineering, IT, HR and FMCG placements and operates from 4 branches. The Group,
which is managed from a head office in Nottingham, was founded in 1986 and was
admitted to AIM in December 2004 (Ticker: STAF.L).
This information is provided by RNS
The company news service from the London Stock Exchange
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