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STAF

Staffline Group PLC

Industrial Goods and Services First-pass screen £50m
300/1000 Overall fit
AI beneficiary 35% 28
Operating leverage 25% 30
Valuation 25% 30
Downside protection 15% 35

First-pass take

Staffline is a traditional labour recruitment and skills training business with zero explicit AI exposure, thin (~3%) margins declining despite revenue growth, and rising net debt (£63m→£89-94m). Recent headwinds (Brexit uncertainty, NMW remediation, Work Programme wind-down) and cancelled dividends signal structural challenges; a large dilutive equity raise was underway.

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