City briefs: Staffline; Cloudcall
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Staffline, the Nottingham based recruitment and training giant, has reported a rise in revenue while cutting losses during its first half.
For the six months to June 30, the firm turned over £450.7m – up almost 5% on last year, while losses were reduced massively from almost £50m last year to just £800,000 this time around.
Albert Ellis, chief executive officer of Staffline, said: “I am extremely proud of the operational turnaround delivered by our leadership teams and employees who have transformed the business, building on the Group’s well-established reputation for unrivalled excellence in service delivery.
“Throughout the Covid-19 pandemic we have continued to focus on the protection and wellbeing of our staff and customers and will continue to do so despite the easing of lockdowns in the UK and Republic of Ireland.
“Looking ahead, whilst we expect to see continued sector-specific labour shortages, we believe Staffline is well placed to capitalise on its position as the clear leader in many markets. In addition, our recent refinancing has transformed the company’s balance sheet providing a strong platform for growth in the medium term. The group is trading in line with the revised, increased market expectations for the full year 2021.”
Cloudcall, the Leicester-based cloud-based software business, has reported revenues rising by 13.4% to £6.4m for the six months to June 30.
However, losses have widened from £1.7m last year to £2.6m this time around, as the group continued its strategy of investing in areas that it says will drive future revenue growth
Simon Cleaver, CEO, said: “I am delighted to report strong growth in line with our expectations and that the investments we’ve been making are delivering efficiencies. We have undoubtedly reached an inflection point whereby we can scale the business whilst limiting growth in cost, thereby allowing us reach breakeven whilst still delivering 25% growth in ARR going forward.”