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

Writer, Stock Market Wire
Friday, September 13, 2019 - 07:40

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 in the UK.

Fee revenue for the three months through August increased to £87.8m, up from £82.7m on-year.

Contract revenue rose 7% but permanent revenue fell 5%.

Revenue in the company's UK and Ireland business fell 7%, but was more than offset by growth overseas, with Europe, US and Asia revenue up 5%, 5% and 14% respectively.

SThree focuses on the so-called STEM professions of science, technology, engineering and math.

'The group's unique and specialised business model has continued to deliver year-on-year growth in the third quarter, driven by a strong performance across all of the group's international markets,' chief executive Mark Dorman said.

'Whilst we remain cognisant of significant macro market uncertainties, we remain confident that we have the right niche focus, vision and teams to deliver continued growth, and our expectations for the full year remain unchanged.'


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