Monday, July 6, 2020

Losses grow at Nottingham recruitment group

Losses have grown at recruitment and training group Staffline, according to audited preliminary results for the “challenging” year ended 31 December 2019.

Revenue decreased 3.9% to £1,076.7m, down from £1,120.9m in 2018, and the firm posted a loss before tax of £48.1m, compared to a £17.8m loss in 2018.

The firm also reported an operating loss of £39.9m in comparison to an operating loss of £14.7m in 2018.

Ian Lawson, Executive Chairman of Staffline, said: “2019 was a challenging year for the Group during which time Staffline faced a number of significant issues. Our new management team are now ensuring that the appropriate measures of strong corporate governance and controls are being put in place.

“Clearly in the current year, we are operating within an unprecedented macroeconomic climate as a result of the COVID-19 pandemic, however, Staffline’s people have risen to this challenge and maintained an outstanding level of business continuity, enabling us to successfully support our blue-chip customer base.

“Our strong operational base and leading positions in many of the markets in which we operate sit firmly at the heart of our strategy to create the most reliable, flexible and integrated workforce in the UK, delivering both opportunities and jobs, training and re-skilling, and in-turn to deliver value to all stakeholders.”

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