Home Brexit Staffline shares plummet over Brexit uncertainty

Staffline shares plummet over Brexit uncertainty

by LLB Reporter
17th May 19 11:48 am

Staffline shares have plummeted as they blamed Brexit uncertainty is affecting the employment market.

With adjusted earnings the recruitment firm are now expected to between £23m and £28m for the financial year. Analysts had estimated a forecast of £42.7m.

The company said the ongoing Brexit uncertainty led to many employers transferring temporary workforce to permanent employment.

The company delayed their publication of the 2018 financial results as they were also affected due to an internal accounting issue.

Analysts at Liberum said, “There is still a range of possible outcome given that it is early in the year, and the important trading periods of the summer and Christmas still lie ahead of Staffline.”

Shares plummeted 55.3% in early morning trading.

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