Staffline Group PLC (LON:STAF) shot up on Wednesday as it flagged higher demand in the food sector during the pandemic.
The recruiter said it is “well-placed” to respond to this surge, and it also launched a new online platform to redeploy those who lost their jobs in other sectors.
READ: Staffline CEO to leave, talks with banks ongoing
In contrast, demand for sectors such as retail, automotive and manufacturing has diminished “considerably”, the AIM-listed company added.
Management said tax payments may be deferred to March 2021, allowing to save cash in the short-term.
“While the implications of the COVID-19 pandemic are difficult to determine, the board is confident in the long-term structural growth drivers of the markets in which the business operates,” Staffline commented.
Shares advanced 25% to 20.7p on Wednesday morning.