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Pinnacle Staffing

  • BY: Andrew Hore |
  • POSTED: 29/07/2009 |

Pinnacle Staffing believes that it can move back into profit in 2009.

The temporary and permanent healthcare staff provider expects to report a loss of 425,000 on revenues of 19.3m in the first half of 2009 but a rise in second half turnover should mean that Pinnacle reports a small full year profit. Pinnacle lost 7.21m last year, although the underlying loss excluding amortisation and depreciation was 600,000.

The nursing division is trading in line with budget. Revenue growth from the contract with the Bristol and Weston NHS Purchasing Consortium has been lower than expected.

At 3p a share, down 0.5p on the day, Pinnacle is valued at 2.78m. The share price is still double what it was six months ago.

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