City briefs: Staffline; Robinson plc
Nottingham-headquartered recruitment group Staffline has posted a trading update ahead of its full year results announcement, with revenue and gross profits both increasing during the year to 31 December 2022.
Revenue at the firm was up 0.4% to £946.8m, while gross profits increased by 0.5% to £83.2m.
Staffline’s underlying operating profits also fared well, increasing by 12.6% to £11.6m.
Staffline CEO Albert Ellis said: “We are pleased to report a solid trading performance across the Group in FY 2022, which is a testament to the outstanding dedication and commitment from all our employees and partners. These results not only reinforce Staffline’s position as a market leader in terms of organic growth, but underscore the clear benefits of its highly cash generative business model.
“As the UK cost of living crisis deepens and the much-publicised global macro headwinds continue to swirl, there is no question that our core markets have become more challenging. Whilst we are mindful of the challenges ahead, we firmly believe Staffline, supported by our sizable market footprint, sector diversity, and unrivalled track record in service delivery and innovation, remains well placed to capitalise on considerable market opportunities and further grow our market share.”
Robinson plc, the Chesterfield-based manufacturer of plastic and paperboard packaging, has also provided a trading update in advance of its annual results announcement.
The firm is expecting to post a 10% increase in revenue – up to £50.5m – compared to the previous year, but says sales volumes were down 10% due to “changes in consumer behaviour, delisting of certain products by our customers and overall reduced customer demand.”
Despite this, Robinson’s board anticipates profits will be in line with expectations and “comfortably ahead of 2021.”
