Today Staffline has released a positive FY21 trading update with underlying operating profit expected to double versus the prior year and net cash of £6.9m at the period end (vs. net debt of £8.8m in FY20). We see Staffline as a unique platform that has improving quality of earnings and a transformed balance sheet. The business has strong defensive qualities but with attractive growth opportunities in structural growth markets. We believe the shares are undervalued and see an intrinsic value per ....
25 Jan 2022
Staffline Group plc (STAF LN) - Initiation: Unique platform
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Staffline Group plc (STAF LN) - Initiation: Unique platform
Staffline Group plc (STAF:LON) | 30.4 0 0.3% | Mkt Cap: 45.4m
- Published:
25 Jan 2022 -
Author:
Rachel Birkett, CFA -
Pages:
38
Today Staffline has released a positive FY21 trading update with underlying operating profit expected to double versus the prior year and net cash of £6.9m at the period end (vs. net debt of £8.8m in FY20). We see Staffline as a unique platform that has improving quality of earnings and a transformed balance sheet. The business has strong defensive qualities but with attractive growth opportunities in structural growth markets. We believe the shares are undervalued and see an intrinsic value per ....