Staffline Group plc (STAF.L), a recruitment and training provider, reported Tuesday a pre-tax profit in its fiscal 2024, compared to prior year's loss, with growth in revenues. On an after tax basis, the company posted narrower net loss.
Looking ahead, for fiscal 2025, the Board expects trading to remain in line with current management expectations.
The company stated that headwinds caused by the proposed increases in employers national insurance rates have reduced business confidence, which has made the firm cautious about prospects for the year
In fiscal 2024, profit before taxation was 5.0 million pounds, compared to prior year's loss of 2.1 million pounds.
Meanwhile, loss after tax from total activities was 8.3 million pounds, compared to loss of 11.0 million pounds a year ago. Loss per share was 5.9 pence, compared to loss of 7.0 pence a year ago.
Excluding significant loss from discontinued operations related to PeoplePlus, the company recorded a profit of 4.1 million pounds from continuing operations, compared to prior year's loss of 1.2 million pounds. Profit per share from continuing activities was 2.9 pence, compared to loss of 0.8 pence a year ago.
Underlying EBITDA for the year climbed 26 percent from last year to 12.6 million pounds.
Total revenue for the year of 992.9 million pounds grew 14 percent from 871.3 million pounds in the previous year, due to market share gains and the increase in the National Living Wage.
Gross sales increased by 13.5% to 1.12 billion pounds from 988.8 million pounds last year, reflecting significant new business growth in the Recruitment GB division.
Albert Elli, Chief Executive Officer, said, "The ongoing macroeconomic headwinds particularly affecting permanent recruitment, and the increases in employer National Insurance rates will reduce visibility in the sector as customers continue to respond to the increase in labour costs.... We anticipate continued growth in blue-collar recruitment across Great Britain, driven by good momentum in new business, and sustained demand for essential workforce solutions."
The company further said that Amanda Aldridge, Independent Non-Executive Director, will assume the role of the Senior Independent Director with immediate effect.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.