Staffline Group plc Reports Net Debt as At December 31, 2015; Provides Earnings Guidance for the Year Ended December 31, 2015
January 06, 2016 at 12:30 pm IST
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Staffline Group plc reported net debt as at December 31, 2015. The record performance in winning new business in the Staffing Division has led to a short-term increase to working capital requirements, which, in conjunction with the acquisitions completed, means that net debt peaked at the year end at around £64 million.
The company provided earnings guidance for the financial year ended December 31, 2015. The Board confirmed that earnings for the full year will be in line with market expectations. Net debt remains on track to fall quickly over coming periods.
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 
