Staffline, a leading provider of outsourced HR services to industry, has reported that its performance in the first four months of 2009 is “in line with management’s expectations”.

At its recent AGM, Staffline chairman Andy Hogarth said: “The current financial year is seeing the full benefit of the new OnSites opened during the second half of 2008, offset as previously announced by the loss of a significant client with four OnSites at the end of the first quarter of 2009.

“While we expect the recession to continue and to impact our industry and our clients, we remain confident that our business model will allow us to operate profitably and to grow our market share, particularly given the relative resilience of the sectors in which we operate, particularly food processing. The operational savings implemented during 2008 should underpin profitability in 2009 and also assist us to remain competitive.

“Critical to our success in these difficult times is our strong financial position, and the cash generative nature of our business, in contrast to many of our competitors. Reflecting this, we continue to see new opportunities as many of our competitors are in poor financial shape and we have already won new business because of this."

At the AGM, the firm was seeking shareholder approval to change the name of the company to Staffline Group plc, having already refreshed its branding and corporate identity. “These changes reflect the move in the last few years away from being a traditional recruitment business towards being an outsourced business services provider and have not incurred material costs,” said Hogarth.

“An update on our first half performance, for the six months ending June 30, 2009, will be provided in early July.”

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