Fri, 15 Jan 2016 

US-listed recruitment group Staffing 360 Solutions has announced record quarterly revenue of $41.3m (£28.8m) in Q2 2016, a 25% year-on-year increase. 

The company, which recently acquired IT recruiter The JM Group in the UK, also announced gross profit for the quarter, ending 30 November 2015, increased to $7.5m from about $5.8m while net loss decreased to about $3.4m from $8.8m.

In the company’s financial statement, released today, its executive chairman and interim chief financial officer Brendan Flood, attributed the loss to non-cash expenses, acquisitions and other non-recurring fees. However, the statement also says acquisitions, such as that of The JM Group, which completed in the quarter, helped reduce the loss. 

The statement adds its record quarterly revenue was the result of M&A activity and organic growth.