07 June 2006
SThree, one of the UK's leading specialist staffing businesses, is today issuing
an update on trading for the six months ended 31 May 2006.
At the time of the preliminary results in February, the Group indicated that it
expected the momentum seen in the closing months of 2005 to continue in the
first half. SThree is today reporting that trading in the first six months has
remained robust and that the Board is pleased with the Group's overall
performance in the period.
SThree made 3,475 permanent placements during the first half, an increase of
32.0% (2005: 2,633). The Group reported a further healthy increase in average
fees from permanent recruitment. At 31 May 2006, SThree had 4,335 active
contractors, representing an increase of 14.8% over the prior year (2005:
3,777). Contractor gross profit per day rates also showed moderate growth.
Russell Clements, Chief Executive, commented: 'The Group has continued to make
good progress in the first half, against a background of healthy demand for
specialist staff in the UK and Europe. Both our permanent and contract
businesses reported strong growth, with the permanent business, in particular,
continuing to benefit from both wage inflation and our ongoing success in
placing higher-salaried candidates. The Board remains confident that the Group's
well-established strategy will underpin progress in the current year.'
SThree will be announcing its interim results for the six months ended 31 May
2006 on Monday 24 July 2006.
- Ends -
SThree plc 020 7292 3838
Russell Clements, Chief Executive Officer
Michael Nelson, Chief Financial Officer
Citigate Dewe Rogerson 020 7638 9571
Kevin Smith / Seb Hoyle
Notes to editors
SThree, founded in 1986, is one of the leading specialist staffing businesses in
the UK. The Group provides both permanent and contract specialist staffing
services in the UK and Europe, primarily in the information and communications
technology ('ICT') sector and, to an increasing extent, the banking and finance,
accountancy, human resources and engineering sectors. Following the
establishment of its first business, Computer Futures, in 1986, the Group
adopted a multi-brand strategy, establishing new operations to address growth
opportunities. SThree currently operates 12 brands, the 3 largest being Computer
Futures, Progressive and Huxley Associates, and has 30 offices in the UK and 9
offices in mainland Europe, in Belgium, The Netherlands, France, Germany and
SThree has a selective approach to clients and focuses on high margin
opportunities, predominantly within the small to medium-sized enterprises
('SME') market, which SThree defines as including autonomous divisions of large
corporates. The Group does not pursue a high volume/low margin model. SThree has
a diverse, international client list of over 4,000 clients.
SThree plc is quoted on the Official List of the UK Listing Authority under the
ticker symbol STHR.
This information is provided by RNS
The company news service from the London Stock Exchange