May 17, 2019 / 6:43 AM / 5 days ago

BUZZ-Staffline: Liberum slashes PT as co cuts full-year profit guidance

** Brokerage Liberum slashes PT for Staffline Group Plc to 800p from 1320p after blue-collar recruiter cuts profit expectations

** Co cuts its full-year adjusted operating profit forecast to a range of 23 mln stg ($29.41 million) to 28 mln stg

** Liberum cuts 2019 EBIT estimate from £43.5 mln to £25.2 mln to reflect guidance cut

** Co said that ongoing Brexit uncertainty was driving companies to move a significant number of temporary workforce into permanent employment to protect agaiinst the risk of the labour market tightening, hurting the recruiter’s margins

$1 = 0.7821 pounds Reporting by Justin George Varghese in Bengaluru

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