Business
Unaudited Half-Year Results
Unaudited Half-Year Results.
About this update from Staffline Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6247L\n Staffline Group PLC\n 14 September 2021\n \n \n \n \n \n \n \n 14 September 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n STAFFLINE GROUP PLC\n \n \n ('Staffline', the 'Company' or the 'Group')\n \n \n \n \n \n UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021\n \n \n \n \n Staffline Group PLC, the recruitment and training group, announces its unaudited results for the six months ended 30 June 2021.\n \n \n \n \n \n \n \n Continuing activities\n \n \n \n \n Six months to 30 June 2021\n \n \n Unaudited\n \n \n \n \n \n \n \n Six months to 30 June 2020\n \n \n Unaudited\n \n \n Restated***\n \n \n \n \n Change\n \n \n \n \n \n \n \n \n \n \n \n \n Revenue\n \n \n \n \n £450.7m\n \n \n \n \n £430.3m\n \n \n \n \n +4.7%\n \n \n \n \n \n \n Gross profit\n \n \n \n \n £39.0m\n \n \n \n \n £34.2m\n \n \n \n \n +14.0%\n \n \n \n \n \n \n Underlying operating profit*\n \n \n \n \n £4.6m\n \n \n \n \n £0.1m\n \n \n \n \n +4,500%\n \n \n \n \n \n \n Underlying EBITDA (pre-IFRS 16)**\n \n \n \n \n £6.3m\n \n \n \n \n £1.9m\n \n \n \n \n +231.6\n %\n \n \n \n \n \n \n Finance costs ****\n \n \n \n \n £1.4m\n \n \n \n \n £2.1m\n \n \n \n \n -33.3%\n \n \n \n \n \n \n (Loss) before tax\n \n \n \n \n £(0.8)m\n \n \n \n \n £(46.8)m\n \n \n \n \n +98.3%\n \n \n \n \n \n \n Net cash/(debt) (pre-IFRS 16)\n \n \n \n \n £20.9m\n \n \n \n \n £(36.2)m\n \n \n \n \n +£57.1m\n \n \n \n \n \n \n \n \n * Operating profit before amortisation of intangible assets arising on business combinations and, in the six months ended 30 June 2020, goodwill impairments and other non-underlying charges (see note 3).\n \n \n ** EBITDA after operating lease payments and before, in the six months ended 30 June 2020, non-underlying charges (see note 3).\n \n \n ***Comparative results for the period ended 30 June 2020 have been restated to exclude the activities that were discontinued in 2020.\n \n \n **** Excludes non-underlying refinancing costs relating to 2020 only.\n \n \n \n \n \n Key financial highlights\n \n \n \n \n \n · \n Gross profit of £39.0m up 14% (H1 2020: £34.2m) \n \n \n · \n Gross profit margin increased to 8.7% (H1 2020: 7.9%) \n \n \n · \n Underlying operating profit increased to £4.6m (H1 2020: £0.1m)\n \n \n · \n Gross p...