FINANCIALS: Gross profit falls 3.4% at SThree but revenue up
3 February 2014
SThree, the international specialist staffing business, has announced a 3.4% fall in reported gross profit (GP) to £199.8m, for the 52-week period ended 1 December 2013.
Mon, 3 Feb 2014SThree, the international specialist staffing business, has announced a 3.4% fall in reported gross profit (GP) to £199.8m, for the 52-week period ended 1 December 2013.
Revenue grew 8.2% to £634.3m, as the company said group performance improved as the year progressed against a backdrop of weaker macroeconomic conditions.
Further progress was made against key strategic priorities including contracts, ongoing sector diversification and international expansion.
Contract GP grew by 4% year-on-year, with contract now accounting for 56% of group GP.
The group was also able to announce strong performance from new sectors, including energy (+9.3%) and life sciences (+18.3%), which now represent 27% of GP (2012: 22%).
Gary Elden, SThree chief executive officer, says: "While the group performance reflects the mixed market conditions which we encountered during the year, it was also a period of significant strategic progress during which we laid the foundations for our future growth.”
SThree opened offices in Calgary, Tokyo and Berlin last year, bringing the group total to 55 in 21 countries, of which 40 are outside the UK.
“As we look forward, our niche specialist focus, experienced management team and strong financial position give us confidence that we will make the best of the market opportunity in 2014," Elden adds.
SThree will be announcing its Q1 interim management statement on Friday 14 March 2014.
Revenue grew 8.2% to £634.3m, as the company said group performance improved as the year progressed against a backdrop of weaker macroeconomic conditions.
Further progress was made against key strategic priorities including contracts, ongoing sector diversification and international expansion.
Contract GP grew by 4% year-on-year, with contract now accounting for 56% of group GP.
The group was also able to announce strong performance from new sectors, including energy (+9.3%) and life sciences (+18.3%), which now represent 27% of GP (2012: 22%).
Gary Elden, SThree chief executive officer, says: "While the group performance reflects the mixed market conditions which we encountered during the year, it was also a period of significant strategic progress during which we laid the foundations for our future growth.”
SThree opened offices in Calgary, Tokyo and Berlin last year, bringing the group total to 55 in 21 countries, of which 40 are outside the UK.
“As we look forward, our niche specialist focus, experienced management team and strong financial position give us confidence that we will make the best of the market opportunity in 2014," Elden adds.
SThree will be announcing its Q1 interim management statement on Friday 14 March 2014.
