Staffline reports record number of OnSite wins at YE 2015
Staffline has issued a trading update for its financial year ended 31st December 2015.
The Board has confirmed that earnings for the full year will be in line with market expectations and both of the business’ divisions have performed well in the year.
The staffing business has secured a record number of OnSite wins in the period. This was also supported by two strategic bolt-on acquisitions completed in the second half. In PeoplePlus, the integration of A4e, acquired in April 2015, remains on track and the company continues to build on its reputation for quality and performance.
According to Staffline, winning new business in the staffing division has led to a short-term increase to working capital requirements, which, in conjunction with the acquisitions completed, means that net debt peaked at the year end at around £64m. The company say that net debt remains on track to fall quickly over coming periods.