Staffline sees revenues rise

Staffline, which last year acquired scandal-hit welfare-to-work business A4e, said that its gross profit was up 34 per cent to £86.8m.

The firm described 2015 as a “transformational” year and said underlying pre-tax profit was up 52 per cent to £28.3m in the year ended 31 December 2015.

Andy Hogarth, chief executive of Staffline, 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,”

Staffline changed A4e’s name to PeoplePlus because the group felt the brand was “too tarnished”. Sheffield-based A4e was sold to Staffline last year in a deal worth £34.5m.

An investigation into fraud allegations at A4e concluded with ten convictions at Reading Crown Court. Six people were sent to prison and a further four received suspended sentences.

The company, which was founded in 1991, was also subjected to audits by the Department for Work and Pensions and the Skills Funding Agency as well as an internal review by global law firm White & Case LLP.

Staffline said it was on track to meet five year growth ambition of £1bn in sales by 2017.

Mr Hogarth said: “We are confident that our strategic initiatives in both of our divisions will continue to support our momentum and as a result we expect to exceed current market expectations for 2016 and continue to achieve strong returns for our shareholders.”