FINANCIALS: Contract gross profit gives SThree ‘encouraging’ start to year

Profit

International STEM staffing business SThree has made an “encouraging” start to the year, with gross profit up 9% year-on-year.

A trading update for the three months to end of February 2019, released this morning, also reveals contract GP was up 12%, with permanent hire GP up 1%.

Commenting on the group’s performance, outgoing CEO Gary Elden said: “We have made an encouraging start to the year, with robust group GP growth in what is our seasonally least significant quarter.

“It is pleasing to see growth in both Contract and Permanent, with a particularly strong performance in Contract, driven by continued progress in our key markets, Continental Europe and the US.

“Our focus on Contract and the continued strength of our performance across key regions and sectors provides resilience in today’s more turbulent market conditions. Set against this context, we remain confident in achieving good growth in the current year.”

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