My 2007 pick is STAFFLINE. Staf. 118p bid 125p offer.
Staffline make most of their money operating outsourced workforces in the food industry. A relatively new concept that seems to be catching on fast. They have been growing fast, and are poised to announce very good results. They have been paying off their core debt at a good rate. Are profitable and interims are on track to put them on a pe of c 11 ish but the results could push it considerably lower. Nb There is a strong bias in favour of second half profitability. The beauty of this business is that it is highly scaleable. The model works extremely well, as the onsite rep works in a parasite office, the business can grow without any property costs.
Overhanging the market is a 20% share that belongs to the VC firm that managed the buyout, and they probably are not long term holders. Today Goldman Sachs took at 3.7% share, this might herald an end to the log jam.
