AGM Trading Update
Staffline Group PLC reported strong trading momentum continuing into FY 2026, with a 14.6% increase in gross profit in the first four months compared to the prior year, driven by a 9.1% rise in temporary worker hours in Recruitment GB and robust permanent recruitment activity in Ireland. The company has also repurchased 7.01 million ordinary shares for £3.18 million as part of its share buyback program. The Board remains confident that FY 2026 results will meet management expectations despite the challenging macroeconomic environment.
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Staffline (AIM: STAF), the recruitment group, provides the following trading update for the current financial year ("FY 2026") ahead of its Annual General Meeting ("AGM") at 9.30am today:
The Group is pleased to report that the strong operational and financial momentum experienced during FY 2025 has continued into FY 2026. Across the first four months of 2026, the Group has delivered a 14.6%* increase in gross profit compared to the prior year, underpinned by a 9.1% year-on-year uplift in temporary worker hours in Recruitment GB, reflecting the sustained demand for both temporary and agency recruitment solutions. Recruitment Ireland also reported a strong start to 2026, supported by a combination of an increase in temporary hours, alongside buoyant permanent recruitment activity.
This excellent operational performance is underpinned by a healthy new business pipeline, driven by organic growth and market share gains across Staffline's blue-chip customer base.
The Board has also deployed the Group's strong trading cash flows to facilitate the current share buyback programme, repurchasing 7.01 million ordinary shares since the beginning of 2026, at an average price of 45.36 pence per ordinary share, for a total consideration of £3.18 million.
Finally, the Board remains confident that, notwithstanding the ongoing challenging macro-economic backdrop, FY 2026 results will be in line with management expectations, as the Group's scale and reach, coupled with its reputation for service excellence and governance, continue to deliver strong organic growth.
*Relating to continuing activities
Recruitment GB
The Recruitment GB business is a leading provider of flexible blue-collar workers, supplying up to c.38,000 staff per day on average from around 550 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.4,700 staff per day on average, and offering RPO, MSP, temporary and permanent solutions across public and private sectors throughout the island of Ireland.
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