Business
2022 Audited Results
2022 Audited Results.
About this update from Staffline Group Plc
[{"type":"text","content":"\n \n \n 21 March 2023\n \n \n \n \n \n \n \n STAFFLINE GROUP PLC\n \n (\"Staffline\", the \"Company\" or the \"Group\")\n \n \n \n AUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2022\n \n \n \n \n \n \n \n - Strong performance across FY 2022 with underlying operating profit ahead of expectations\n - Strong balance sheet, with net cash of £5.0m\n \n Staffline Group plc, the recruitment and training group, announces its audited results for the year ended 31 December 2022 ('FY 2022').\n \n \n Financial Highlights1\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FY 2022\n \n \n \n \n \n FY 2021\n \n \n \n \n Change\n \n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n £940.5m\n \n \n \n \n \n £942.7m\n \n \n \n \n -0.2%\n \n \n \n \n \n \n \n Gross sales value2\n \n \n \n \n \n \n £1,031.3m\n \n \n \n \n \n £996.5m\n \n \n \n \n +3.5%\n \n \n \n \n \n \n \n Gross profit\n \n \n \n \n \n \n £83.2m\n \n \n \n \n \n £82.8m\n \n \n \n \n +0.5%\n \n \n \n \n \n \n \n Gross margin %\n \n \n \n \n \n \n 8.8%\n \n \n \n \n \n \n 8.8%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Underlying operating profit3\n \n \n \n \n \n \n £12.0m\n \n \n \n \n \n £10.3m\n \n \n \n \n +16.5%\n \n \n \n \n \n \n \n Gross profit to underlying operating profit conversion %\n \n \n \n \n \n \n 14.4%\n \n \n \n \n \n \n 12.4%\n \n \n \n \n \n \n +2.0%pts\n \n \n \n \n \n \n \n \n Profit after tax\n \n \n \n \n \n \n £3.8m\n \n \n \n \n \n £1.6m\n \n \n \n \n +£2.2m\n \n \n \n \n \n \n \n Underlying EBITDA\n \n \n \n \n \n \n £17.6m\n \n \n \n \n \n £16.9m\n \n \n \n \n +0.7m\n \n \n \n \n \n \n \n Net cash4\n \n \n \n \n \n \n £5.0m\n \n \n \n \n \n £6.9m\n \n \n \n \n -£1.9m\n \n \n \n \n \n \n \n \n \n \n \n \n \n 1\n \n Presented on a continuing basis.\n \n \n \n \n \n \n \n Alternative performance measures\n \n \n \n \n \n 2\n \n Gross sales value represents the fair value of the consideration received or receivable for the supply of services, including agency sales, (excluding fees) which are subject to an IFRS 15 agency adjustment, net of value added tax, rebates and discounts\n \n \n \n \n \n 3\n \n Underlying results exclude goodwill impairment, amortisation of intangible assets arising on business combinations, reorganisation costs and other non-underlyi...