06 June 2007
SThree, the international specialist staffing business, is today issuing an
update on trading for the six month period ended 3rd June 2007.
The Group continued to perform strongly in the first half, with trading
conditions in the specialist staffing markets it services supporting healthy
growth across the business. The Board is pleased with the Group's overall
performance in the period.
SThree made 4,580 permanent placements during the first half, an increase of
31.8% over the same period last year (2006: 3,475). The Group continued to
benefit from both underlying wage inflation and an increase in the proportion of
higher salaried candidates within the sales mix. As a consequence average fees
achieved continue to improve.
At 3rd June 2007, SThree had 4,974 active contractors, an increase of 14.7% over
the prior year (2006: 4,335). Contractor gross profit per day rates increased
strongly as a result of a continuing move up the candidate value chain and as
the benefits of the management actions taken in the second half of the prior
year continued to impact positively on contract rates.
Russell Clements, Chief Executive, commented: 'Trading conditions remain
positive and I am pleased to report that the Group has maintained its strong
growth momentum during the first half. Growth in both the volume and value of
business transacted has been robust, supported by our increased geographical and
sector representation. In particular, the initial performance of the Group's
first US office, in New York, has been very encouraging and has underlined the
scale of the potential opportunity that exists for SThree in that market.
Similarly, results from our nascent Far Eastern business have prompted us to
bring forward the opening of our planned Hong Kong office to H2 2007. Overall,
the first half has given us a strong foundation on which to build and leaves the
Group well-positioned to make further progress for the full year.'
SThree will be announcing its interim results for the six month period ended 3rd
June 2007 on 23rd July 2007.
- Ends -
SThree plc 020 7292 3838
Russell Clements, Chief Executive Officer
Michael Nelson, Chief Financial Officer
Citigate Dewe Rogerson 020 7638 9571
Kevin Smith / Nicola Smith
Notes to editors
SThree, founded in 1986, is one of the leading specialist staffing businesses in
the UK and Europe, providing permanent and contract specialist staff to a
diverse, international client base of well over 4,000 clients. From its well
established position as a major player in the information and communications
technology ('ICT') sector the Group is now broadening the base of its operations
by building fast growing businesses serving the banking and finance,
accountancy, human resources, engineering and pharmaceuticals 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 four largest
being Computer Futures, Huxley Associates, Progressive and Pathway, and has 33
offices in the UK and 14 offices internationally; 13 in Europe, in Belgium, The
Netherlands, France, Germany and Ireland, and one office in New York.
SThree has a selective approach to clients and focuses on high margin
opportunities, predominantly within the small to medium-sized enterprises
('SME') market. From its inception the Group has avoided the high volume/low
margin business model in favour of a focus on high quality business.
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