Losses have widened despite an uptick in revenue at Staffline Group, the Nottingham-based recruitment and training group, amidst a “widely reported downturn in the recruitment sector.”
According to unaudited interim results for the six months ended 30 June 2024 (H1 2024), revenue increased 11.7% to £480.2m, from £430m in the same period last year.
Meanwhile, the business posted a loss before tax of £12.1m, in comparison to a £1.4m loss before tax last year.
Albert Ellis, Chief Executive Officer of Staffline, said: “With the widely reported downturn in the recruitment sector, I am delighted to report a highly creditable performance across the first half of 2024.
“In what has proven to be a persistently challenging macro-economic environment, Staffline’s strategy to grow its market share organically, and focus on customer service and delivery has served it well in the first six months of the year.
“In exiting the Skills market twelve months ago, PeoplePlus has reduced its overheads at a time when political changes in the UK have resulted in the pipeline being pushed back.
“My thanks to everybody in the Group who has contributed to this excellent result, and looking forward, I am pleased that we expect underlying trading to be in line with expectations for the full year.”
