Multi-sector recruiter Staffline’s trading is in line with board expectations, according to its chairman.

Andy Hogarth told the company’s AGM today: “Whilst we expect the recession to continue and impact our industry and our clients, we remain confident that our business model will allow us to operate profitably and to grow our market share, particularly given the relative resilience of the sectors in which we operate, particularly food processing. The operational savings implemented during 2008 should underpin profitability in 2009 and also assist us to remain competitive.

“Critical to our success in these difficult times is our strong financial position, and the cash generative nature of our business, in contrast to many of our competitors. Reflecting this, we continue to see new opportunities as many of our competitors are in poor financial shape and we have already won new business because of this.”

Hogarth also announced that the board was seeking shareholder approval to change the name of the company from Staffline Recruitment Group to Staffline Group.

“He said that having already refreshed its branding and corporate image, this would “reflect the move in the last few years away from being a traditional recruitment business towards being an outsourced business services provider and have not incurred material costs.”