Staffline Group PLC Company Update (4773X)
30 April 2019 - 4:01PM
UK Regulatory
TIDMSTAF
RNS Number : 4773X
Staffline Group PLC
30 April 2019
30 April 2019
STAFFLINE GROUP PLC
("Staffline" or "the Group")
Company Update
Staffline provides the following update regarding the
publication of its final results for the year ended 31 December
2018.
As set out in the Company's announcement on 30 March 2019,
following allegations by a third party in respect of invoicing and
payroll practices within the Group's Recruitment division, a review
was instigated including the appointment of independent legal
advisers as well as instructing the Group's auditors to extend
their scope of work.
The independent legal report has now been delivered in full and
there are no further matters to report beyond those in the key
findings interim report, which were described in the announcement
of 30 March 2019. Significant progress has been made on the
extended audit and the Board continues to expect to report, subject
to audit completion, an underlying trading performance for the year
ended 31 December 2018 in line with expectations.
The key outstanding matter in finalising the results relates to
the Group's historical compliance with National Minimum Wage
Regulations 2015. This is a complex area and management, in
conjunction with HMRC and supported by an independent advisor, are
assessing the significant amount of historic data and transactions,
which will then be subject to audit. Once the work is completed and
audited, Staffline will release its preliminary results and
shareholders will be updated as appropriate.
For further information, please contact:
Staffline Group plc via Vigo Communications
www.stafflinegroupplc.co.uk
Chris Pullen, Chief Executive Officer
Michael Watts, Group Chief Financial
Officer
Liberum NOMAD and Joint Broker
www.liberum.com
Steve Pearce / Joshua Hughes 020 3100 2222
Berenberg Joint Broker
www.berenberg.com
Chris Bowman / Toby Flaux 020 3207 7800
Vigo Communications Financial PR 020 7390 0230
www.vigocomms.com staffline@vigocomms.com
Jeremy Garcia / Antonia Pollock / Charlie
Neish
Note for Editors
About Staffline - Recruitment, Training and Support
Enabling the Future of Work(TM)
Staffline is the UK's market leading Recruitment and Training
group. It has two divisions:
Recruitment Division
The UK's leading provider of flexible blue-collar workers,
supplying over 60,000 staff per day to c. 1,500 private sector
clients, across a wide range of industries including agriculture,
drinks, driving, food processing, logistics and manufacturing. It
operates from over 400 locations in UK, Eire and Poland.
Its world leading Customer Experience platform provides
optimised customer-based staffing management solutions whilst
providing market-leading levels of job satisfaction for
workers.
PeoplePlus Division
The leading adult skills and training provider in the UK,
delivering apprenticeships, adult education, prison education and
skills-based employability programmes across the country.
Education and Training - market leading provider of training
courses for private sector Apprenticeships (both Levy and non-Levy)
and Government funded Adult Skills programmes.
Employability - top quartile performer, supporting Government
programmes providing back-to-work education and support services to
the unemployed.
Justice and Community - education and training services for
prisoners and ex-offenders, as well as individual support services
for carers and people with disabilities, both at home and in the
work place.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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