First-half revenue increased 14pc to £187m and pre-tax profit was up by a
quarter to £3.4m. Mr Hogarth said: “We started the second half well, buoyed
by the hot weather which has seen a significant increase in demand for
contractors.”

Brokers estimate full-year adjusted pre-tax profits of £12m, giving earnings
per share of 41p. However, the reported full-year figures are expected to be
hit by a £3m charge for a share option scheme.

The exciting prospects are around the dividend. The interim dividend was
increased by 23pc to 3.8p, payable on November 15. “Once we have paid back
our debt we have little else to do but return cash to shareholders,” said Mr
Hogarth. Staffline is expected to be debt free within four months.

Staffline shares trade on a full-year adjusted earnings multiple of 12.6
times, falling to 11.6 times, despite having risen more than 80pc this year. Not
for widows and orphans this one, but it’s a buy.