May 17, 2019 / 7:33 AM / a month ago

BUZZ-Staffline: Plunges over 43% after profit warning, on track for worst day ever

(Updates)

** Shares of Staffline plummet more than 43% to 471p after co lowers its FY adj. operating profit forecast

** The fall places co on course for worst day on record

** Co cut its adj. operating profit forecast to a range of 23 mln stg ($29.4 mln) to 28 mln stg

** Brokerage Liberum slashes PT for STAF to 800p from 1320p

** Liberum cuts 2019 EBIT estimate from £43.5 mln to £25.2 mln to reflect forecast cut

** STAF said Brexit uncertainties were driving cos to move temporary workforce into permanent employment to protect against the risk of tightening labour market

** That has hurt the recruiter’s margins

$1 = 0.7821 pounds Reporting by Justin George Varghese and Samantha Machado in Bengaluru

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