Investor Relations

Background & overview

 

Staffline Recruitment Ltd was formed in 1986 with a base in Nottingham and supplied temporary local industry. In 2002 Staffline Recruitment Group Ltd, comprising Staffline Recruitment and Techsearch a sub-division offering skilled trades people, saw a new senior management team lead by Andrew Hogarth and Marshall Evans. The new team changed the direction form a branch lead business to an OnSite business opening the first OnSite office towards the end of 2002.

 

Within a year the OnSite business was joined by a further 17 OnSite locations and, when Staffline was admitted to the AIM in 2004 the number of OnSite businesses had almost doubled to 35.

 

On-site Partnership was acquired by the Group in 2007 to further strengthen the company’s OnSite presence and bring skills and knowledge of the call centre market.

 

At the close of 2009 Staffline had increased the OnSite business to a total of 119 locations while remaining visible on the High Street with the branch based business.

 

Strategy

 

The Group’s strategy has been extended during the year, shaped by the effects of the recession and we are now also increasingly looking to bolt-on acquisition opportunities as well as organic growth to enhance shareholder value.

 

During 2009 we were approached by in excess of 30 companies and advisers to see if we might be interested in acquiring them. We concluded three purchases: Peter Rowley Limited, La Gente, and The Workplace, which will together add about £10m to sales in a full year, further contributing to our profitability.

 

The integration of these bolt-on acquisitions has also resulted in improved scope to drive efficiencies and we continue to seek and deliver further acquisitions as part of our core strategy going forward.

Our staged payment model for acquisition consideration can greatly increase the level of payment made to the vendor whilst allowing us to minimise the risk to Staffline and increase earnings immediately.

These acquisitions have partly been responsible for the increase in the numbers of OnSites but our greatest emphasis remains organic growth. We are confident that the cost pressures which are continuing to be experienced by our clients and target customer base will endure and therefore the need for our services has never been greater. As consumers demand increased value for money; our services enable our clients to operate more efficiently and maintain their competitiveness and this will ensure that we are able to continue to grow

 

 

Company registration number:

05268636

 

Registered office:

The Triangle, NG2 Business Park

Nottingham Nottinghamshire NG2 1AE

 

Directors:

Shaun Brittain (Executive Director)

John Crabtree (Senior Independent Director)

Marshall Evans (Operations Director)

Andy Hogarth (Chairman and Chief Executive)

Tim Jackson (Finance Director)

Nicholas Keegan (Non-Executive Director)

 

Secretary:

Tim Jackson

 

Nominated adviser and broker:

Altium Securities, 30 St James Square

London SW1Y 4AL

 

Registrars:

Computershare Investor Services plc

PO Box 859, The Pavilions, Bridgewater Road

Bristol BS99 1XZ

 

Bankers:

Bank of Scotland, 15 Queen Street

Nottingham NG1 2BL

 

Solicitors:

Browne Jacobson LLP, 44 Castle Gate

Nottingham NG1 7BJ

Wragge & Co LLP, 55 Colmore Row

Birmingham B3 2AS

 

Auditors:

Grant Thornton UK LLP

Registered Auditor

Chartered Accountants

Enterprise House

115 Edmund Street

Birmingham B3 2HJ

 

Financial and trade PR

Smithfield Consultants Limited

10 Aldersgate Street, London EC1A 4HJ

 

 

Staffline Recruitment Group plc shares are traded on the Alternative Investment Market.

 

The number of AIM securities in issue as at 31 December 2008 is 21,229,081 and, insofar as it is aware, the percentage of AIM securities that are not in public hands are 55.26%

AIM Rule 26 further information

Current share price

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Staffline Group PLC. Registered Office 19 - 20 The Triangle, NG2 Business Park, Nottingham. NG2 1AE

Registered in England & Wales Number 5268636