Revenues rise as pre-tax losses widen at Nottingham recruitment group

Losses widened despite a rise in revenue at Staffline Group, the Nottingham-based recruitment and training group, amid a “widely reported downturn in the recruitment sector”.

According to unaudited interim results for the six months ended 30 June 2024 (H1 2024), revenue rose 11.7% to £480.2m from £430m in the same period last year.

Meanwhile, the company made a pre-tax loss of £12.1m, following a pre-tax loss of £1.4m last year.

Albert Ellis, Chief Executive Officer of Staffline, said: “With the widely reported downturn in the recruitment sector, I am pleased to report a highly creditable performance in the first half of 2024.

“In what proved to be a persistently challenging macro-economic environment, Staffline’s strategy to grow its market share organically and focus on customer service and delivery paid off in the first six months of of the year.

“Twelve months ago, on exiting the Skills market, PeoplePlus reduced its overheads at a time when political changes in the UK saw the pipeline rejected.

“Thank you to everyone in the group who contributed to this excellent result and I look forward to seeing that we expect underlying trading to be in line with expectations for the full year.”