Annual revenues, profits surge at Staffline

(Sharecast News) - Staffline Group posted a jumped in full-year earnings on Tuesday, on the back of a boom in demand for temporary workers. The AIM-listed recruiter, which specialises in the UK in providing blue-collar workers on a flexible basis, saw revenues rise 11.5% in the year to 31 December, to £1.1bn. Operating profits were 31.3% stronger at £13m.

Staffline said it had benefited from continued organic market growth in existing customers alongside a "significant" new partnership with a leading logistics provider.

In the UK - where Staffline supplies up to around 38,000 workers a day across industries ranging from food processing to driving and logistics - strong demand for temporary staff meant revenues sparked 13.6% to £1bn. That helped offset a weaker performance in the smaller Irish division, Recruitment Ireland, where revenues fell 5.9% to £102.1m.

Staffline said the overseas performance reflected a change of mix between temporary and permanent recruitment as well as a "challenging" first half due to Storm Eowyn.

Looking to the current year, however, and Staffline remained confident despite heightened headwinds, pointing to the defensive nature of its core markets, such as food and logistics in the supermarket sector in the UK and the Irish public sector.

Chief executive Albert Ellis said: "Despite ongoing sector and geopolitical headwinds, we remain cautiously optimistic about the 2026 full year. Our healthy pipeline, strong balance sheet, ongoing focus on cost control and expected easing of the labour supply means we are well placed to continue growing market share across the UK and Ireland."

As at 1230 GMT, the stock was up 6% at 43.27p.

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