Nottingham-based staffing and employability company Staffline has released its results for its financial year ended 31st December 2015.
The Staffline board has announced that all divisions of the business – including PeoplePlus, which incorporates Avanta and A4e – performed well during the period. Profits are expected to be in line with market expectations over the full year.
The company’s core recruitment division, OnSite, which assists the logistics, food and manufacturing sectors, secured a record number of wins during the period.
Staffline’s strong performance has led to a short-term increase in working capital requirements. This is due to the recent acquisition of A4e, which saw the company assume A4e’s net debt of £11 million. As a consquence, Staffline’s net debt peaked at around £64 million at the end of its financial year. However, this is expected to fall quickly.
The Staffline Group, established in 1986, specialises in logistics, e-retail, manufacturing, driving, food processing and white collar recruitment. The company is based at the Triangle on Nottingham’s NG2 Business Park.