StockMarketWire.com - Recruitment and training company Staffline posted a deeper annual loss after revenue was hit by the pandemic and it wrote down the value of its assets.

The company also announced it had appointed current non-executive director Albert Ellis as its new chief executive, effective from the start of October.

Pre-tax losses for the six months through June amounted to £47.7m, compared to losses of £12.3m on-year. Revenue dropped 17% to £434.9m.

The losses included non-cash charges for goodwill impairment of £35.3m and amortisation of intangibles of £4.8m.

On a more positive note, Staffline said it had seen an unprecedented surge in food supply-chain sector demand including supermarket customers during lockdown.

Ellis had joined the board in March and was recently CEO of technology recruitment company Harvey Nash.

Executive chairman Ian Lawson would become non-executive chairman at the end of 2020, following a period of operational handover and transition.

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