Revenue down almost 4% at year-end 2019 for Staffline
Staffline has released its audited preliminary results for the year ended 31st December 2019.
Revenue was down 3.9% to £1,076.7m from restated revenue of £1,120.9m in 2018. The company reported an underlying operating loss of £0.8m, following a restated profit of £32.8m in 2018. The company’s reported operating loss was £39.9m, down from a restated loss of £14.7m in 2018. Staffline had a reported loss before tax of £48.1m, down from a restated loss of £17.8m in 2018.
Ian Lawson, executive chairman of Staffline, commented, "2019 was a challenging year for the Group during which time Staffline faced a number of significant issues. Our new management team are now ensuring that the appropriate measures of strong corporate governance and controls are being put in place. Clearly in the current year, we are operating within an unprecedented macroeconomic climate as a result of the COVID-19 pandemic, however, Staffline's people have risen to this challenge and maintained an outstanding level of business continuity, enabling us to successfully support our blue-chip customer base.
"Our strong operational base and leading positions in many of the markets in which we operate sit firmly at the heart of our strategy to create the most reliable, flexible and integrated workforce in the UK, delivering both opportunities and jobs, training and re-skilling, and in-turn to deliver value to all stakeholders."
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