Staffline Group plc Proposes Final Dividend, Payable on July 4, 2017; Announces Audited Consolidated Earnings Results for the Full Year Ended December 31, 2016; Provides Revenue Guidance for the Year 2017
January 25, 2017 at 02:00 am
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The Directors of Staffline Group plc propose to increase the final dividend by 22% from 12.5 pence to 15.3 pence. This dividend will be payable on 4 July 2017 to shareholders on the register at 2 June 2017. The ex-dividend date is 1 June 2017. This will give a total dividend for the 2016 financial year of 25.8 pence, an increase of 29% (2015: 20.0 pence).
The company announced audited consolidated earnings results for the full year ended December 31, 2016. For the period, the company reported revenue of £882.4 million against £702.2 million a year ago. Operating profit was £22.2 million against £7.5 million a year ago. Profit for the period before taxation was £18.9 million against £5.5 million a year ago. Profit from continuing operations was £15.0 million against £3.1 million a year ago. Net profit and total comprehensive income for the period was £14.7 million or 58.8 pence per diluted share against £2.8 million or 12.3 pence per diluted share a year ago. Net cash from operating activities was £42.9 million against £9.4 million a year ago. Purchases of property, plant and equipment was £3.6 million against £3.9 million a year ago. Purchase of intangible assets software was £3.3 million against £0.5 million a year ago. Net debt as at December 30, 2016 was £37.2 million against £63.7 million as at December 31, 2015. Underlying profit before tax was up 30% to £36.7 million against £28.3 million a year ago. Underlying diluted earnings per share up 23% to 114.0 pence against 92.4 pence a year ago.
Positive outlook for 2017 and on track to achieve ambitious five-year £1 billion revenue target.
Staffline Group plc is a United Kingdom-based recruitment and training company. The Company is engaged in the provision of recruitment and outsourced human resource services to industry and the provision of skills-based employability training and support. It has three divisions: Recruitment GB, Recruitment Ireland and PeoplePlus Division. Recruitment GB division provides flexible blue-collar workers, supplying c.28,000 staff per day on average from around 400 sites. Recruitment Ireland division provides end to end solutions, operating across twenty industries, ten branch locations and ten onsite customer locations, supplying c.4,000 staff per day on average, and offering recruitment process outsourcing, managed service provision, temporary and permanent solutions across the island of Ireland. PeoplePlus Division provides adult skills and training in the United Kingdom, delivering adult education, prison education and skills-based employability programs across the country.
Staffline Group plc Proposes Final Dividend, Payable on July 4, 2017; Announces Audited Consolidated Earnings Results for the Full Year Ended December 31, 2016; Provides Revenue Guidance for the Year 2017