SThree profit jumps 28% following strong offshore performance


Recruitment company SThree reported an 28% rise in first-half profit, as growth in its overseas businesses more than offset weakness in the UK.

Pre-tax profit for the six months through June rose to £22.7m, up from £17.8m on-year.

Revenue climbed 12% to £653.3m and adjusted profit rose 18% to £24.0m.

SThree declared an interim dividend of 5.1p, up 8.5% on-year.

'This set of results, the first since I joined the group, demonstrates that our strategy is putting SThree ahead of the field,' chief executive Mark Dorman said.

'The engine room of our growth has continued to be the key strategic focus areas of our business - progress within the key STEM markets, particularly the US and Continental Europe, as well as an increased contract weighting.'

'Notwithstanding the macro-economic backdrop in certain regions, the group remains well positioned as we enter the second half, and the board's expectations for the full year remain unchanged.'

Related content

Broker Forecast - Liberum Capital issues a broker note on SThree PLC

Liberum Capital today reaffirms its buy investment rating on SThree PLC (LON:STHR) and raised its price target to 480p (from 450p).

Broker Forecasts data provided...

Fri, 06/12/2019 - 09:10

SThree third-quarter sales up 4% as overseas strength offsets weak UK

Recruitment company SThree reported a 4% rise in third-quarter fee revenue, as a jump in contract and overseas revenue offset weakness for permanent positions, particularly...

Fri, 13/09/2019 - 07:40

Brexit clouds have a silver lining, says Cable


Truly long-term investors with a 10-year time horizon should see issues such as Brexit as opportunities, according to Matt Cable, manager of the Jupiter UK...

Thu, 29/08/2019 - 00:00

Catching up on news from 11 of our Great Ideas

The Great Ideas section of the digital magazine represents our best ideas each week. We try to publish updates as soon as there has been relevant...

Thu, 01/08/2019 - 00:00

SThree chief operating officer Justin Hughes to stand down

Recruitment firm SThree said that chief operating officer Justin Hughes was standing down from 1 July.

He would will remain with the group to provide...

Mon, 01/07/2019 - 07:09