Staffline Group PLC New Business and VAT Deferral Update (0243B)
October 05 2020 - 2:00AM
UK Regulatory
TIDMSTAF
RNS Number : 0243B
Staffline Group PLC
05 October 2020
5 October 2020
STAFFLINE GROUP PLC
("Staffline" or the "Group")
New Business and VAT Deferral Update
Staffline, the Recruitment and Training group, provides the
following update on new business and VAT deferral.
PeoplePlus update
PeoplePlus, the Group's adult skills and training division, is
pleased to announce it has been selected as a provider for the
Department for Work and Pensions' ("DWP") Commercial Agreement for
the Provision of Employment and Health Related Services ("CAEHRS")
framework.
CAEHRS replaces the DWP's existing Umbrella Agreement which
expires in 2021. It will become the default framework for
contracting employability and health related programmes. CAEHRS
will run for five years (2020-2025) and the framework will cover a
potential aggregate contract value of GBP7.5 billion.
This UK-wide commercial agreement is organised into a national
Lot and seven regional Lots split across two tiers. Tier 1 covers
the commissioning of services with a value of over GBP11 million in
England and GBP6 million in Scotland and Wales. Tier 2 covers the
commissioning of services with a value of between GBP2 million and
GBP11 million in England and GBP2 million to GBP6 million in
Scotland and Wales.
PeoplePlus has been successful in securing a place on the
national Lot and has been selected as a Tier 1 provider in all six
regions across England and Scotland, and as a Tier 2 provider in
Wales.
Recruitment GB update
Staffline is also pleased to announce a three-year contract
extension of an existing agreement to provide contingent labour to
Tesco, a significant customer of the Group in terms of scale. This
agreement continues to build on an 11-year working relationship in
which Staffline has provided innovative, value added solutions to
Tesco's Distribution network.
VAT deferral
The Group notes the Chancellor's recent statement giving
businesses who have deferred VAT due from 20 March 2020 to 30 June
2020, the option to pay in smaller payments over a longer
period.
As a result, instead of paying the full VAT amount due by the
end of March 2021, Staffline can make smaller payments up to the
end of March 2022, interest free. This payment period will now
ensure that the Group has additional time in which to consider and
implement mitigating actions with regards to liquidity as set out
in its 2020 interim results.
Ian Lawson, Executive Chairman of Staffline, commented:
"We are delighted to be extending our working partnership with
Tesco, a long-term and valued customer, in addition to our
PeoplePlus' services being represented so widely across the CAEHRS
framework.
"We also welcome the Chancellor's recent amendments to existing
VAT deferral measures, which further support the Group's wider
actions to further alleviate liquidity pressures in the medium
term."
For further information, please contact:
Staffline Group plc via Vigo Communications
www.stafflinegroupplc.co.uk
Ian Lawson, Executive Chairman
Daniel Quint, Interim Chief Financial
Officer
Liberum NOMAD and Broker
www.liberum.com
Bidhi Bhoma / Joshua Hughes 020 3100 2222
Vigo Communications Financial PR 020 7390 0230
www.vigocomms.com staffline@vigocomms.com
Jeremy Garcia / Antonia Pollock
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 three divisions:
Recruitment GB
Staffline is the UK's leading provider of flexible blue-collar
workers, supplying approximately 40,000 staff per day on average to
around 450 client sites, across a wide range of industries
including agriculture, supermarkets, drinks, driving, food
processing, logistics and manufacturing.
Recruitment Ireland
The recruitment Ireland business is a leading end to end
solutions provider operating across 20 industries, 10 branch
locations, 15 onsite customer locations and offering RPO, MSP,
temporary and permanent solutions across the island of Ireland.
PeoplePlus Division
Staffline is the leading adult skills and training provider in
the UK, delivering apprenticeships, adult education, prison
education and skills-based employability programmes across the
country.
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END
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