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.”

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