FINANCIALS: SThree posts positive half-yearly results

Global science, technology, engineering and mathematics (STEM) specialist recruiter SThree has said its performance is “ahead of expectations” in its half-year trading update.

The company states in its report that because Q2 2020 was significantly impacted by Covid-19, the group also compared its performance against 2019 net fees, which reveals Q2 net fees was up 8% compared with 2019 figures. 

The trading update continues: “The growth seen in 2021 vs 2019, across several regions and sectors, as well as for the group as a whole, demonstrates the very strong underlying performance of the Group and the relevance of its differentiated, STEM-focused offering. Group net fees for H1 were also up 3% compared to 2019 figures. 

Other highlights include:

  • Q2 net fees up 22% year-on-year (21% adjusted for working days), reflecting a strong underlying performance with sustained improvements in new deal activity and contractor retention rates 
  • Group net fees for H1 up 10% year-on-year – strong growth in DACH region and the US; life science and technology net fees up significantly across the group
  • Contractor order book(4) up 33% YoY 
  • Top five countries represent 86% of group net fees, with Germany being 33% and the US 25% 
  • Andrew Beach to join as CFO on 5 July 2021 (see Appointments).

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