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Staffline - Hogarth not overly concerned by Brexit

August 2016

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • STAF
  • Price:
  • 937p
Another excellent H1 from Staffline. Overall, sales went up 40% to £414.7m (14% organic), pretax profit was up 51% to £15.2m and eps were up 49% to 48.1p.  Net debt fell by £20m to £43.7m.The Staffing side saw record organic growth in its Onsite business with 36 new locations, taking the total to 341 across food manufacture, food distribution, agriculture, HGV and its first ever white collar ones (call centres, data centres). That gave rise to divisional sales up 44% to £336.7m and operating profit up from £5.3m to £6.8m. Brexit has cast a tall shadow over the division because 75% of its 45,000 contractors are East European migrants. But speaking to chief executive Andy Hogarth, he isn ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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