FINANCIALS: SThree sees rise in profits

Net migration: Shutterstock

SThree has seen overall profits rise despite challenging conditions for its UK & Ireland business, according to a trading update today.

The update, for the quarter ended 31 August 2017, reveals the international STEM specialist recruiter’s gross profit rose 5% in the quarter year-on-year, led by its divisions in global energy (up 35%), engineering (up 5%) and life sciences (up 3%).

Across its international operations, the group saw GP growth for its US operation (up 20%) and Continental Europe division (up 6%). However, the firm posted a 10% decline in GP in the UK & Ireland.

Commenting on the group’s performance, CEO Gary Elden said: “A robust performance in Continental Europe and further strong growth in the US were particular highlights and our contract business is continuing to drive growth across the group.

“We are well-positioned for the final quarter and now expect to deliver a full-year result ahead of current consensus.”

• Want to comment on this story? Email us at [email protected] or tweet us below to tell us your thoughts. We will run comments online in a round-up at the end of the week.

Email story to a friend

Manchester opening for Fruition IT heralds start of growth phase

Following a significant investment in November 2023, Leeds-based recruitment company Fruition IT and sister company Fruition Consulting have opened a new office.

Contracts 22 March 2024

Minister gives more power to the North for job creation

Jobs were on the agenda at last week’s Conference of the North [1 March 2024] as Levelling Up secretary Michael Gove made a series of announcements in Leeds.

5 March 2024

APPOINTMENTS: 26 FEBRUARY-1 MARCH 2024

This week’s appointments include: Astute, Heidrick & Struggles

People 27 February 2024

Granger Reis appoints Dargan to lead new digital infrastructure practice

International executive search firm Granger Reis has appointed Steve Dargan to lead its new digital infrastructure (DI) practice.

People 13 February 2024
Top