Despite revenue being down 11% to £49.1m, Staffline Group has announced that pre-tax profits for the six months ending 30 June 2009 remained stable at £1.4m, compared with the same period in 2008 (also £1.4m).

The company says it was able to maintain profits at the 2008 level because of cost reductions.

Andy Hogarth, chairman and chief executive, told Recruiterthat he was pleased that the company had managed to remain profitable “in a very tough environment”.

Hogarth says he doesn’t foresee a general pick up in activity in the next six months. “Our clients are going through a pretty torrid time, and the supermarkets (some of Staffline’s main clients) and consumers are still driving a hard bargain.”

Hogarth adds that the cost cutting phase at the company is now over, though it is always looking for further efficiencies, particularly in its IT systems.

In a statement to the London Stock Exchange, Hogarth, says: “The group has had a successful first half year considering the tough economic backdrop in many of its trading sectors. Our focused strategy of deriving a greater proportion of revenues from the more secure areas of outsourced labour, training and other business services has continued.”