Recruitment group adds £200m in revenues after acquisitive year
STAFFLINE GROUP has increased revenues by £200m after a year of acquisitions.
The recruitment group bought Sheffield-based welfare to work company A4e in April 2015 for £34.5m. It rebranded the business as PeoplePlus, to leave behind the tainted legacy of A4, which had seen a number employees were imprisoned for fraudulently claiming £300,000 with forged documents.
Although Staffline expects to see the full impact of A4e in 2016, along with other acquisitions including staffing specialist Milestone Operations and Northern Ireland-based Diamond Recruitment Group, its revenues increased 40% to £702m.
Pre-tax profits dropped by half, largely as a result of the costs of expansion, to £5.47m in the year to December 2015.
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Andy Hogarth, chief executive, said: “2015 was another transformational year of organic and acquisitive growth for Staffline.
“Our work to position the Group at the forefront of ethical standards and compliance has resulted in a record number of OnSites with new and existing customers and has also differentiated us with our now enlarged Employability division, now called PeoplePlus, having completed the integration of A4e.”
He said he expects strong returns for shareholders.
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