FINANCIALS: SThree sees rise in revenue and profit

International STEM staffing business SThree has seen net fee income climb 10% year-on-year, according to interim results for the half year to 31 May 2019.

The results, released this morning, reveal NFI rose from £148.4m to £163m, with revenue up 12% from £585.9m to £653.3m and operating profit up 21% from £18m to £23.3m.

Elaborating on the group’s performance SThree CEO Mark Dorman revealed the main contributors to the group’s growth have continued to be its key strategic focus areas of its business – progress within the key STEM markets, particularly the US and Continental Europe, as well as an increased contract weighting.

“Alongside our teams having capitalised on these major structural trends, it has been pleasing to note a number of other highlights for the group. Our small but rapidly growing Permanent business in Japan, the strong performance for Energy in the US driven by trends to renewable energy and power transmission, and the strengthening of our market-leading position in life sciences, where we continue to benefit from the emergence of new sector technology and data analytics.

“To build on this growth, we are continuing to strategically invest in the areas of the business which present the greatest opportunity, consistent with our vision to be the number one STEM talent provider in the best STEM markets. With the scale of the opportunity available to us, we look forward to continuing to execute in the period ahead.”

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