Staffline reduces revenue estimates after weak recruiting numbers

UK-based recruiting and training firm, Staffline Group, has recently released its official updated report on company trading and future predictions.

The group pointed at challenges to trading in Q4 and the Board announced that it expects the group to deliver full year adjusted operating profit (being profits before interest, tax and non-underlying charges) for the period ending 31 December 2019 of approximately £10 to £12 million.

In its H1 results published in September 2019, the group said it expected to deliver full year adjusted operating profit of approximately £20 million.

Earlier this year, Staffline had issued two profit warnings in four months with this latest being the third profit warning of the year.

The company has faced uncertainty this year after it delayed the publication of its full year results. Staffline shortly thereafter launched an investigation over invoicing and payroll concerns in its recruitment division.

In the group’s recruitment division, Staffline said its trading performance during the fourth quarter has been below the Board's expectations, with lower than anticipated demand from end customers.

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