Staffline Group plc Proposes Final Dividend, Payable on 3 July 2018; Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 24, 2018 at 12:30 pm IST
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Staffline Group plc announced financial position at the end of 2017 and confidence for the future enables the company to propose an increased final dividend of 15.7 pence compared to 15.3 pence a year ago, payable to shareholders on 3 July 2018, giving a full year dividend of 26.7 pence compared to 25.8 pence a year ago.
The company announced audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of £957.8 million against £882.4 million a year ago. Operating profit was £26.9 million against £22.2 million a year ago. Profit for the period before taxation was £24.1 million against £18.9 million a year ago. Profit from continuing operations was £18.3 million or 71.1 pence per diluted share against £15.0 million or 58.8 pence per diluted share a year ago. Profit for the year was £18.3 million against £15.8 million a year ago. Net cash inflow from operating activities was £41.7 million against £42.9 million a year ago. Purchases of property, plant and equipment was £2.7 million against £3.6 million a year ago. Purchase of intangible assets software was £1.1 million against £3.3 million a year ago. Net debt fell by £20.2 million, from £36.7 million at the end of December 2016 to £16.5 million at the end of December 2017. Underlying revenue was £957.8 million against £882.4 million a year ago. Underlying operating profit was £39.1 million against £40.0 million a year ago. Underlying profit for the year before taxation was £36.3 million against £36.7 million a year ago. Underlying profit from continuing operations was £29.0 million against £29.1 million a year ago. Underlying diluted earnings per was 112.6 pence against 114.0 pence a year ago.
The company expects group's 2018 profit to be slightly higher than in 2017.
Staffline Group plc is a United Kingdom-based recruitment and training company. The Company is engaged in the provision of recruitment and outsourced human resource services to industry and the provision of skills-based employability training and support. It has three divisions: Recruitment GB, Recruitment Ireland and PeoplePlus Division. Recruitment GB division provides flexible blue-collar workers, supplying c.28,000 staff per day on average from around 400 sites. Recruitment Ireland division provides end to end solutions, operating across twenty industries, ten branch locations and ten onsite customer locations, supplying c.4,000 staff per day on average, and offering recruitment process outsourcing, managed service provision, temporary and permanent solutions across the island of Ireland. PeoplePlus Division provides adult skills and training in the United Kingdom, delivering adult education, prison education and skills-based employability programs across the country.
Staffline Group plc Proposes Final Dividend, Payable on 3 July 2018; Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018