Insider Media Limited

Recruitment giant Staffline has revealed a revenue jump of 79 per cent in its preliminary year-end results after acquiring three businesses in the last 12 months. The Nottingham-based company said that sales leapt from £115m in 2009 to £206.2m for the year ending 31 December 2010. Group operating profit also soared 110 per cent to £7.8m. The company said that going forward, opportunities for expansion and growth would be sought.

In the year previous, group operating profit was set at £3.7m. Pre-tax profit was also up 100 per cent to £7m, said the company via the London Stock Exchange this morning.

Over the financial year, the company acquired three businesses. It's most recent purchase was Kelburn Industrial, which was completed in January this year.

The company also increased its presence by operating an additional 16 sites, taking the total to 135.

Investment in two of Staffline’s acquisitions, Peter Rowley and House of Logistics, was “opening up opportunities in new industries and increasing group operating margins”, said the company.

Andy Hogarth, chairman and chief executive, said: "Staffline continues to perform strongly against a backdrop of challenging market conditions. Our revenue and profit have both increased significantly, a testament to the skill and dedication of our people. I would like to thank them all for their continued hard work throughout the past year.

"Changing attitudes towards outsourcing staff have benefitted us, with many companies reluctant to hire permanent staff in the current economic climate. OnSite is continuing to grow, with the opening of 16 more sites.

"We continue to strive to create value for shareholders, underpinned by our successful strategy of organic growth coupled with selective acquisitions. The board's confidence in our business model continues to strengthen as is indicated by the doubling of the total dividend. The group has made a good start to the new financial year and we look forward to reporting another year of progress."