SThree profit up 25% on strong offshore performance

Recruitment firm SThree posted a 25% rise in annual profit that beat its expectations, as growth overseas offset a weak UK performance.

Pre-tax profit for the year through November rose to £47.0m, as revenue climbed 13% to £1.26bn.

The company, which is focused on the STEM markets of science, technology, engineering and math, declared an annual dividend of 14.5p per share, up 4% on-year.

Gross profit in continental Europe, the US and Asia Pacific grew by 20%, 8% and 11%, respectively.

Gross profit in the UK and Ireland fell 5%, though the company said a restructuring of the division was delivering in line with its expectations.

'The group continued to make good progress throughout 2018,' chief executive Gary Elden said.

'This resulted in a strong financial performance which, demonstrating our resilience, was delivered despite the ongoing macro-economic and political uncertainties.'

'Looking forward to the year ahead, our post-year end trading is in line with expectations and we remain well positioned to benefit from the growth opportunities in our chosen STEM markets.'

At 3:00pm: (LON:STHR) SThree PLC share price was +5.25p at 277.75p