Staffline Completes First Tranche of Share Buyback Program

An update from Staffline ( (GB:STAF) ) is now available.

Staffline Group PLC has completed the first tranche of its share buyback program, repurchasing 15,517,851 ordinary shares for a total of £4,843,093.81 at an average price of 32.34 pence per share. This buyback initiative is part of a broader plan to purchase up to £7.5 million of shares, with the second tranche contingent on shareholder approval at the upcoming Annual General Meeting. The completion of Tranche 1 reflects Staffline’s strategic efforts to manage its capital structure and potentially enhance shareholder value.

More about Staffline

Staffline is one of the UK’s leading recruitment groups, operating through two divisions: Recruitment GB and Recruitment Ireland. Recruitment GB provides flexible blue-collar workers across various industries, including supermarkets, logistics, and manufacturing, supplying approximately 35,000 staff per day from around 400 sites. Recruitment Ireland offers end-to-end recruitment solutions across multiple industries, supplying about 4,500 staff daily and providing RPO, MSP, temporary, and permanent solutions across public and private sectors in Ireland.

YTD Price Performance: 21.79%

Average Trading Volume: 711,821

Technical Sentiment Signal: Buy

Current Market Cap: £35.54M

For a thorough assessment of STAF stock, go to TipRanks’ Stock Analysis page.