Staffline hikes dividend as profits and revenue rise

Staffline posted a rise in pre-tax profit for the year ended 31 December as revenues grew and the company lifted its dividend 48%, saying it expects to exceed current market expectations for 2016.

Underlying pre-tax profit at the staffing and training group was up 52% from 2014 to £28.3m on revenue of £702.2m, up 40%.

Meanwhile, gross profit rose 34% to £86.8m and the company declared a final dividend of 12.5p, bringing the total dividend for the year to 20p from 13.5p the year before.

Staffline said it was on track to meet its five-year growth ambition of £1bn in sales by 2017, adding that it has successfully integrated its three acquisitions.

Chief executive Andy Hogarth said: "2015 was another transformational year of organic and acquisitive growth for Staffline.

"Our work to position the group at the forefront of ethical standards and compliance has resulted in a record number of OnSites with new and existing customers and has also differentiated us with our now enlarged Employability division, now called PeoplePlus, having completed the integration of A4e.”

At 1016 GMT, Staffline shares were up 5.5% to 1,366p.