Staffline Group PLC (LON:STAF) said it is not aware of any reason behind a recent movement in its share price, which surged 52% to 48.5p on Thursday.
The recruitment firm said it was making continued progress in agreeing a revised financing structure for its main banking facilities and expected to agree and implement a new structure ahead of its full year results for 2019, which it expects to publish “shortly”.
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Staffline said for the year ended December 31, 2019, it expects to reports a “small underlying EBITA loss” with net debt of £59.5mln.
The company also said it was benefitting from a number of tax measures to support UK businesses during the coronavirus pandemic, which it said had “significantly improved” its liquidity through to the end of 2020.
Shares in Staffline dropped 20.2% to 38.7p in early trading on Friday.