Staffline to miss £1bn revenue target for the year

AIM-listed employment agency Staffline said on Wednesday that full-year results should be in line with market expectations but revenues will be a touch below its £1bn target.

In a trading update for the year to the end of December 2017, the company said that revenues will still be around 9% higher than the £882.4m reported in 2016.

Staffline said demand in the staffing business has remained strong through the second half and the division has once again achieved “excellent” growth in the number of OnSites this year. Meanwhile, PeoplePlus, the employability, skills and justice division, has also made good progress, winning new contracts and benefiting from its focus on improved margins, helping to offset reduced activity from the run off of the Work Programme.

The company is due to release its preliminary results for the year ended 31 December 2017 on Wednesday 24 January.

At 1000 GMT, the shares were down 1.5% to 995p.