SThree gross profit up 11%

SThree has seen group gross profit (GP) grow 11% despite continued “challenging” conditions for its UK business.

Interim results for the six months to 31 May 2018, released by the international specialist recruiter this morning, reveal group revenue rose 14% in constant currency from £521m in H1 2017 to £585.9m.

Group GP increased 11% in constant currency from £134.4m in H1 2017 to £148.4m.

Annual GP growth was witnessed across Continental Europe (up 18%) including DACH (Germany, Austria and Switzerland) and the Netherlands (up 18% and 25% respectively), though UK & Ireland operations saw GP decline 2% year-on-year. 

Contract GP was up 14% year-on-year, with strong growth across the group’s energy (up 31%), engineering (up 17%), and life sciences divisions (up 11%).

CEO Gary Elden pointed to an “encouraging first half performance, driven by further strong growth in contract, and the group’s Continental Europe and US divisions.

"To build on this growth, we are continuing to invest in our highest performing teams, consistent with our vision to be the number one STEM talent provider in the best STEM markets. The group is performing well and we are making good progress against our five-year growth plan. 

“Trading in the weeks since the period end has continued the positive trend, leaving the group well-positioned as we enter our seasonally more significant second half.”

CONTRACTS & DEALS: 15-19 APRIL 2024

This week’s new contracts & deals include: Oleeo, Randstad, Sirona Medical, Workday

Contracts 15 April 2024

MSP firm Abacus Group welcomes D’Ambrosi on board as new CEO

Abacus Group, a managed services provider to alternative investment firms, has appointed Anthony J D’Ambrosi as its new CEO.

People 11 April 2024

Aliter Capital appoints Antunes to grow technology and resourcing arm

Aliter Capital, a specialist buy and build investor focused on SME support services businesses, has appointed John Antunes as group CEO for its technology transformation and resourcing investment.

People 11 April 2024

FINANCIALS: Empresaria reveals fall in profits, but Offshore Services delivers growth

Empresaria’s Offshore Services operations proved to be the shining light in the company’s fortunes in 2023, according to the global specialist staffing group’s annual results.

Financials 27 March 2024
Top