Staffline gross profit up 77% in H1 2015
Operational highlights include:
Acquisition of A4e Ltd in April 2015 for £34.5m significantly expands Employability division
Staffline now one of the largest Work Programme providers in the UK
Acquisition expected to be significantly earnings enhancing going forward
Record first half within Staffing division
32 new OnSites opened in H1, more than one a week. Total now 267 sites (H1 2014: 212)
Strong momentum continued into H2, underpinned by new business pipeline across both Staffing and Employability
Board remains confident of meeting current market expectations
Commenting on the results, Andy Hogarth, chief executive, said, "The first half of 2015 has been a transformational period for Staffline. Our most notable achievement was the acquisition of A4e Ltd in April, which significantly strengthened our Employability offering, both for our Work Programme contracts and additional training and skills provision. Meanwhile, our Staffing division continues to go from strength to strength with a record number of OnSites opened.
"In view of the strategic progress achieved across our two key divisions, we remain confident of the Group's future growth prospects and this is demonstrated by our 50% increase in the interim dividend."