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Staffline Group PLC on Tuesday saw its shares surge as it expects to report annual profit that tops market expectations. The Nottingham, England-based recruitment and training company said underlying operating profit rose 7.8% to £11.1 million in 2024 from £10.3 million in 2023, ‘exceeding market expectations’ for 2024 of £10.1 million. Revenue climbed 13% to £1.06 billion in 2024 from £938.2 million in 2023. This was boosted by the traditional peak trading period in the run up to Christmas, the company said. It noted that blue-collar recruitment had an ‘excellent’ year, while Recruitment Ireland ‘also had a remarkable year’ after a challenging 2023. Looking ahead, Staffline said: ‘We believe 2025’s performance will be impacted by ongoing macroeconomic uncertainty. This may affect our recruitment customers operating in blue-collar markets, as a result of the increase in employers’ national insurance, and also impact permanent white-collar demand, to which our Ireland division is more exposed. Nevertheless, we anticipate continued growth in blue-collar recruitment across Great Britain, driven by market share expansion, strong momentum in new business wins, and sustained demand for essential workforce solutions.’ It added that interest rate levels higher than originally expected will increase the cost of working capital compared to previous expectations. Chief Executive Officer Albert Ellis said: ‘Staffline remains a trusted strategic partner across a number of key sectors, both in the UK and Ireland, and I am confident that despite the challenging backdrop, our track record in continuing to increase market share will continue to support growth in 2025.’ Staffline shares rose 30% to 24.40 pence each at midday in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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