Section Items

The comments on this page are some of the thoughts that I had when considering this company and not a recommendation to take an action or to refrain from taking an action.

As you know we have no information about your circumstances, understanding of your investment goals or the level of risk that is acceptable to you. So it would be completely unreasonable to read these commentaries as recommendations.
Is This Just Pump And Dump?
I may or may not own the shares which have commentaries on this site.

Commentaries tend to be created when I look at a share and decide if it is one that I want to buy either now or when I next have an unallocated pot.
As companies often report numbers in slightly different ways there are a number of entries to cover this and as these are rough notes there will usually be empty items.

The debt columns are shown as positive values if there is any debt, all other negative values are shown within parenthesis and without a sign.

Commentary On Staffline Group

Title: Staffline – A Continuing Disaster Or Growing Pains.
Company: STAF - Staffline Group
Share Price Then: 70p
Author: Ian Smith
Date: Wed 18 Dec 2019
Comments: Staffline have been on my radar for a while now, each time I look at it I think is this the end of the bad news, Have a look at the case study?

Yet each time there is a sort of mini recovery in the share price as some new action, change of focus or fund raising is announced followed by more big bad news.

This time the bad news is poor trading figures, an overstatement of 2018 profits by around £4m and the departure of the CFO.

Underlying profits are expected to be down from £39m in 2018 to around £10m in 2019.

The Board expects year end net debt to be approximately £50 to £55 million, in line with current market expectations. Staffline maintains a constructive relationship with its lenders and consequently the Board does not anticipate any covenant issues over the year end. Furthermore, the Company is considering certain strategic options which may significantly reduce net debt during H1 2020.

So there is some concern that the company may simply run out of money, in August 2019 the auditors PriceWaterhouseCooper resigned, it is hard to know if there is anything that a shareholder should infer from this though.
ItemCurrent PeriodPrevious Period
Period6 Months6 Months
Adjusted Earnings£2m£15m
Adjusted EBITDA
Statutory Profit
Adjusted Profit
Total Debt
Net Debt£89m£37m
Read Count: 358