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.”