Nottingham recruitment giant issues profit warning

Staffline Group's Nottingham headquarters

Nottingham recruitment giant Staffline has issued a profit warning on the back of a “broad range of factors” that are affecting the firm.

The company said today (17 May) that ongoing Brexit uncertainty, a slowdown in new contract momentum brought about by the delay in publishing its annual results because of an investigation into its historic compliance with National Minimum Wage regulations and a slow take up of the Apprenticeship Levy scheme will has led it to downgrade its forecast for 2019.

A statement from Staffline said: “The Group experiences seasonality in its trading and typically earns only approximately 15% of its earnings in the first quarter of the financial year. The April performance is therefore a key initial indicator as to the full year turn out, and with visibility of that trading, and as a consequence of the broad range of factors highlighted above, the Board now expects the Group to deliver adjusted EBIT in the range of £23m to £28m for the financial year ending 31 December 2019.”

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