Revenues rise at Staffline

Staffline Group’s revenues have risen on the back of “extremely strong” trading, according to interim results for the half year ended 30 June 2010.

The group’s results reveal:

Staffline Group’s revenues have risen on the back of “extremely strong” trading, according to interim results for the half year ended 30 June 2010.

The group’s results reveal:

·     revenue up 70% to £83.4m (2009: £49.1m)

·     profit pre tax and amortisation up by 71% to £2.4m (2009: £1.4m)

·     pre-tax profit up 50% to £2.1m (2009: £1.4m)

·     net debt reduced to £4.8m (Dec 2009: £5.0m)

 

Andy Hogarth, chairman and chief executive, says: “Trading in the first few weeks of the second half of 2010 has continued to be extremely strong with two latest acquisitions starting to have an impact. In addition we have opened a further six OnSites during July and August, bringing the current total of OnSite locations to 135. The board now expects earnings for the full financial year to be significantly ahead of current expectations.”

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