Losses spiral at ‘uncertain’ recruitment firm
Nottingham-based recruitment giant Staffline has seen losses reach almost £50m for the six months to June 30.
The company, which has been through a tumultuous 12 months, saw losses widen from £12.3m over the same period in 2019 to £47.7m this year.
Revenue also dropped by 17% to £435m.
Staffline says it saw an “unprecedented” demand for workers in the food supply chain sector during lockdown, but that this couldn’t make up for the downturn in other sectors during the first half of the year.
Ian Lawson, executive chairman of Staffline, said: “Staffline continued to successfully service its customer base, and our business proved resilient in the first half of 2020 despite COVID-19 significantly impacting a number of the Group’s key sectors. Our teams have worked tirelessly to not only support our customers in what has been a very challenging trading environment, but to ensure all of our workforce remains safe.”
“Whilst we anticipate a stronger trading performance in H2 2020, there is a very high level of uncertainty across the market as a result of COVID-19.”