FINANCIALS: Staffline’s £1bn target unlikely to be met

Staffline expects revenues to be slightly below its £1bn target, according to a trading update issued by the staffing and employability organisation this morning.

The update reveals that while the group expects revenues to be slightly below its £1bn target, it will still be 9% above the £882.4m revenues reported for 2016, with full-year results in line with market expectations.

The group reports its demand in its staffing business has remained strong through H2, with the division has delivering “excellent” growth in the number of OnSites this year.

Meanwhile PeoplePlus, its employability, skills and justice division, also reports good progress, continuing to win new contracts as well as benefiting from its focus on improved margins, which the group says has helped offset reduced activity from the run off of the Work Programme. 

Staffline will announce preliminary results for the year ended 31 December 2017 on Wednesday 24 January.

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