Staffline’s revenues soar despite market challenges

Recruitment and training business Staffline has reported a jump in revenue, rising by over £120m despite the recruitment market “remaining challenging”.

The Nottingham-based group saw revenues increase 14% to £992.9m in 2024, up from £871.3m the year before. Gains were attributed to increased market share and the rise in the National Living Wage.

Underlying profit before tax also beat expectations, climbing 40% to £10.1m.

Earlier this year, Staffline sold off its training-focused subsidiary, PeoplePlus, for £12m to Swipejobs UK, the British arm of an Australian recruitment company.

The move marked a shift in direction for the group. Albert Ellis CEO of Staffline said: “With our emphasis now on fast-growing recruitment activities rather than training and education, this felt like the right time to make the change.”

Although profit after tax declined by 24.5%, resulting in a loss of £8.3m – primarily due to the impact of the sale – the company remains optimistic about its streamlined future.

The loss from discontinued operations amounted to £12.4m, hence the overall decline in profit.

The disposal of PeoplePlus, which brought in £65m in revenue and £1.3m in pre-tax profit last year, transforms Staffline into a pure-play recruitment business.

Ellis said: “I am delighted with Staffline’s outstanding performance in 2024, with the ongoing commitment of the Group’s staff and leadership team central to achieving these results, alongside tight control of our cost base. In addition, our success in maintaining excellence in delivery over the crucial pre-Christmas peak trading period in the food retailing and logistics sectors remains a key feature of our impressive financial performance.

“There is no question that the recruitment market remains challenging but the combination of Staffline’s extensive scale and reach, market leadership and strong brand has ensured we continue to outperform in an uncertain market, remaining the trusted partner of choice.

“Our strategy is now firmly focused on our recruitment activities, and the disposal of PeoplePlus allows us to dedicate greater focus and resources on continuing to deliver the organic growth strategy and accelerating value creation for our shareholders.”