Staffline (STAF LN) - Outperforming peers

Staffline’s FY23 results, covered in our 19 March research, showed a robust trading performance in light of tough macro conditions. Now that most of the quoted UK recruitment peers have reported full year or interim results covering the 2023 calendar year, we are able to benchmark Staffline’s performance. The Group outperformed the average of its listed peers on CY23 revenue growth, NFI growth, underlying EBIT growth, and GP to EBIT conversion. The outperformance is greater when Staffline’s comb

LIBERUM: Staffline Group: More buybacks on the horizon

LIBERUM: CEO Video: Albert Ellis, Staffline Group plc:

LIBERUM: Staffline Group: Results in line and encouraging start to the year

Staffline (STAF LN) - Robust results

Staffline’s FY23 results present a resilient trading performance throughout tough market conditions. FY23 Adj. EBIT of £10.3m is 2.0% ahead of the £10.1m we forecast and, impressively, is broadly in line with our original £10.4m estimate set over a year ago in January 2023, testament to the Group’s resilient model and strong cost control.

LIBERUM: Staffline Group: FY 23 FD EPS slightly ahead, cash much better but outer years EPS reduced

Staffline (STAF LN) - FY23 EBIT in line and cash ahead

Staffline’s FY23 trading update shows a strong underlying performance against challenging trading conditions.

Staffline (STAF LN) - Resilient business model

Staffline’s H1 results show a good performance in challenging market conditions and the Group is on track to meet current market expectations for FY23, subject to its usual H2 weighting. Therefore, Zeus underlying EBIT forecasts are unchanged, but we factor in the newly announced £4m share buyback programme which boosts EPS estimates. We reiterate our investment case that Staffline has a uniquely diversified platform across recruitment services, longstanding blue-chip clients, a robust balance s

LIBERUM: Staffline Group: Strong cash performance and £4m buyback

Staffline (STAF LN) - AGM statement

Staffline has confirmed it remains on track to hit our FY23 estimates following a strong FY22 performance. Signs of stronger organic growth are coming through in both the UK and Ireland driven mainly by contract extensions in Recruitment GB and People Plus. We make no changes to our forecasts at this juncture and remain comfortable with our valuation per share of 62.2p illustrating compelling upside from current levels. We continue to believe that Staffline is well positioned to navigate current

LIBERUM: CEO Video: Albert Ellis, Staffline Group*

LIBERUM: Staffline Group* - Strategic progress offset by macro headwinds