Staffline Group, the recruitment and training group, has hailed a “robust trading performance across 2023.”
Announcing its audited results for the year ended 31 December 2023, the Nottingham-based business posted revenue of £938.2m, up from £928.1m in 2022, which Staffline said highlighted market share gains predominately in Recruitment GB.
Underlying operating profit, meanwhile, was slightly ahead of market expectations, “against challenging trading conditions.” At £10.3m, it dipped from £12m in 2022.
Furthermore, gross profit stood at £80.8m, down from £82m.
Albert Ellis, Chief Executive Officer, said: “I am pleased to report that Staffline has delivered a robust trading performance across 2023, demonstrating the resilience of the Group’s operating model against a challenging macro-economic backdrop and also the success of our strategy.
“We continued to grow our recruitment market share, driven by a healthy pipeline of contract renewals and awards, alongside further strengthening our cash position which enabled us to carry out a £5m share buyback programme, an important part of our capital allocation policy.
“Our results for 2023 are a testament to not only the resilience of our business, but also the hard work of our team who have worked tirelessly to deliver these results. I would personally like to thank all our talented leadership and dedicated staff for their unwavering commitment to Staffline’s success.”
