Staffline Group PLC Restart Contract Wins for PeoplePlus (6141A)
June 02 2021 - 8:01AM
UK Regulatory
TIDMSTAF
RNS Number : 6141A
Staffline Group PLC
02 June 2021
2 June 2021
Staffline Group plc
("Staffline", the "Company" or the "Group")
Restart Contract Wins for PeoplePlus
Staffline (AIM: STAF), the recruitment and training group,
provides the following update regarding contracts with prime
suppliers in relation to the Department for Work and Pensions
Restart programme, as previously disclosed as being in negotiation
in the 'Proposed Placing and Subscription to raise GBP44 million,
Proposed Open Offer to raise GBP4.4 million and Proposed Debt
Refinancing' announcement released by the Company on 21 May
2021.
The Board is pleased to announce that PeoplePlus, the Group's
leading adult skills and training division, has concluded three
contracts with two of the UK's leading outsourcing providers. The
combined value of the contracts is material to PeoplePlus,
representing an opportunity of up to a maximum of GBP90m over four
years in aggregate revenue at the higher rate performance outcome
and are expected to commence in H2 2021.
As previously noted, these contracts will not impact
expectations for the current financial year and will underpin
PeoplePlus' revenue pipeline for 2022 and beyond.
Albert Ellis, Chief Executive Officer of Staffline,
commented:
"We are delighted to have concluded these contracts to support
the Department for Work and Pensions Restart programme. These
contracts underpin PeoplePlus's performance in the medium-term,
building a diverse and multi service portfolio in line with our
strategy and reinforcing our reputation as one of the UK's leading
adult skills and training providers."
Simon Rouse, Managing Director of PeoplePlus, added:
"We look forward to working with our employability partners to
deliver the Restart programme in supporting the long-term
unemployed in finding work. PeoplePlus's purpose is to help people
transform their lives, get jobs and keep jobs and develop their
careers. Restart gets to the heart of that purpose."
For further information, please contact:
Staffline Group plc via Vigo Consulting
www.stafflinegroupplc.co.uk
Albert Ellis, Chief Executive Officer
Daniel Quint, Chief Financial Officer
Liberum (Nominated Adviser and Broker)
www.liberum.com
Bidhi Bhoma / Richard Lindley / William
Hall / Christopher Whitaker 020 3100 2222
Vigo Consulting ( Financial PR) 020 7390 0230
www.vigoconsulting.com Staffline@vigoconsulting.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 twenty industries, ten branch
locations, fifteen 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 adult education, prison education and
skills-based employability programmes across the country.
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END
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