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Staffline - 24 OnSites to roll out this year

October 2011

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:
  • 212p
Staffline has reported H1 results to 30 June showing revenues up 45% to £121m and pretax profit up by 38% to £2.9m. Eps were up by 39% to 9.2p. Adjusting for the money that came in with the Fourstar acquisition (now rebranded EOS Works) but which is to be paid out to creditors, net debt amounts to £2.4m. During H1, Staffline continued to rollout its On-Site model where it employs a contract manager located at a customer's site to manage all their recruitment needs. The number of OnSite's grew by a net six during the period to 141, in line with its historical run rate and contributed £108m to sales, up 45% on the same half last year (12% organic). Chief executive Andy Hogarth says what continues to drive the OnSite ...

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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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