AGM Trading Update
Strong momentum continues with 6.2% gross profit growth in first four months of FY2025 and new major logistics contract.
vs expectations: in line with recently revised management expectations
- Gross profit growth (first 4 months FY2025) 6.2%
- Temporary worker hours uplift Recruitment GB 6.6%
- Shares repurchased (2025 programme tranche 1) 15.5 million
- Average repurchase price 31.2 pence per share
- Total consideration for repurchase £4.8 million
Select text to share a quote on X · sign in to keep highlights & notes in your STAF notes
Staffline (AIM: STAF), the recruitment group, provides the following trading update for the current financial year ("FY 2025") ahead of its Annual General Meeting ("AGM") at 9.30am today:
The Group is pleased to report that the strong momentum experienced in FY 2024, which delivered significant financial and operational progress, has continued into FY 2025. The Group has delivered a 6.2%* increase in gross profit for the first four months of 2025 compared to the prior year, driven by a year-on-year uplift in temporary worker hours in Recruitment GB, up 6.6% over the same period, reflecting the sustained demand for both temporary and agency recruitment solutions. This excellent performance has been followed by the announcement on 16 May 2025 of a substantial new contract with a leading logistics company which has materially enhanced the Board's expectations of Group performance over the next three years.
The Board remains focused on capitalising on the Group's strong trading cash flows, repurchasing 15.5 million ordinary shares, at an average price of 31.2 pence per ordinary share, for a total consideration of £4.8 million as part of the first tranche of the 2025 share buyback programme.
The Board is therefore confident that trading across FY 2025 is on track to deliver results in line with recently revised management expectations, as the Group's scale and reputation for service excellence continues to deliver further market share gains.
*Relating to continuing activities
Recruitment GB
The Recruitment GB business is a leading provider of flexible blue-collar workers, supplying up to c.35,000 staff per day on average from around 400 sites, across a wide range of industries including supermarkets, drinks, driving, food processing, logistics and manufacturing.
Recruitment Ireland
The Recruitment Ireland business is a leading end to end solutions provider operating across multiple industries, ten branch locations and ten onsite customer locations, supplying c.4,500 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across public and private sectors throughout the island of Ireland.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.