The recruitment and training group released the update ahead of the release of final results for the year ended 31 December 2018, which were originally delayed due to an investigation into allegations by a third party in respect of invoicing and payroll practices within the group’s recruitment division at which time the group suspended trading of its shares on AIM.

In March, Staffline shares resumed trading on AIM when the recruitment and training group revealed the result of its investigation.

In today’s update the group reveals its independent legal report has now been delivered in full and there are no further matters to report beyond those in the key findings interim report announced in March. Significant progress has been made on the extended audit and the Board continues to expect to report, subject to audit completion, an underlying trading performance for the year ended 31 December 2018 in line with expectations, Staffline added.

The statement adds that the key outstanding matter in finalising the results relates to the group’s historical compliance with National Minimum Wage Regulations 2015. With this being a complex area Staffline management, in conjunction with HMRC and supported by an independent adviser, are assessing the significant amount of historic data and transactions, which will then be subject to audit. 

Once the work is completed and audited, Staffline says it will release its preliminary results with shareholders updated as appropriate.

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