Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
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  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
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  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

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SThree plc (STHR)

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Friday 06 June, 2008

SThree plc

Trading Statement

RNS Number : 1202W
SThree plc
06 June 2008
 



Trading Update


SThree, ('SThree' or 'the Group'), the international specialist staffing business, is today issuing an update on trading for the six-month period ended 1 June 2008.


The Group will report a positive first half to its financial year, recording healthy levels of year-on-year growth. The Board expects gross profit for the period to be approximately £100m, an increase of 21% on the previous year (2007: £82.5m). This performance is in line with the Board's expectations for this point in the financial year and reflects robust demand for the Group's services from its customers and a continuation in confidence on the part of the candidates that it places.


SThree made 5,008 permanent placements in the first half, an increase of 9.5% over the same period last year (2007: 4,580). This increase in volume was enhanced significantly by further substantial increases in the average value of the permanent placements, to new record levels.


At 1 June 2008 SThree had 5,743 active contractors, an increase of 15.5% on the equivalent number last year (2007: 4,974). As with the increase in permanent placement fees, the average gross profit per day value of each contractor continued to grow substantially, to also stand at record levels.


The value increases, recorded in both the Permanent and Contract sides of the business, demonstrate that the Group continues to benefit from both healthy levels of wage inflation and from its success in moving up the value chain, placing a greater percentage of higher paid candidates. The Group continued to focus on the placement of specialist candidates in markets where the supply and demand dynamic is structurally in favour of the candidate and hence the supplier.  


The Group's long established ICT business continued to trade strongly in line with newer disciplines such as Engineering, Oil & Gas, HR, and Accountancy & Finance. Demand from investment banks remained subdued in the UK and US but this was offset to some extent by continued demand in this niche from other geographies. However, the Group's exposure to this sector is not a significant part of its overall business. 


During the first half the Board was particularly pleased with the performance of the Group's international business, with early contributions from its newest offices in DubaiHong Kong and Sydney enhancing a strong performance from longer established offices in continental Europe. As a result the Non-UK versus UK split of overall gross profit will show a meaningful change compared with the position at the end of the last financial year.


Since the beginning of the financial year the Group has spent approximately £15m repurchasing shares for cancellation at an average price of 204p. The Board is continuing to buy back shares during its close period and to this end has already put in place an irrevocable, non-discretionary programme that is being executed by UBS Limited.


At the half-year end the Group had net cash of £3m (2007: net borrowings of £40.5m) and has benefited from a significant improvement in its day sales outstanding (DSO) figure, which stands at 51 days (2007: 80 days).  


Russell Clements, Chief Executive commented:


'Once again, we are in a position to report that overall trading conditions remain encouraging and continue to be supportive of healthy growth. Our half-year performance is in line with our internal expectations and our KPIs show no signs of a material change in market sentiment. We remain mindful of the issues facing the financial sector but this is a relatively small market for us and we continue to see no signs that the uncertainty in this area is having an impact more generally.  


'We are particularly happy with the continuing success of our strategy of international expansion and are very excited by the outstanding opportunities that exist for us as we build an increasingly global business.'


SThree will announce its interim results for the six months ending 1 June 2008 on 21 July 2008.


SThree is hosting an analyst conference call today at 0830 BST. The dial in number is + 44 20 3003 2666 and the password is SThree.


- Ends -


Enquiries:


SThree plc

020 7292 3838

Russell Clements, Chief Executive Officer


Alex Smith, Chief Financial Officer




Citigate Dewe Rogerson

020 7638 9571

Kevin Smith / Nicola Smith




Notes to editors


SThree, founded in 1986, is an international specialist staffing business, providing both permanent and contract staff to a diverse, client base of well over 6,000 clients. From its well-established position as a major player in the information and communications technology ('ICT') sector the Group has broadened the base of its operations by building fast-growing businesses serving the banking and finance, accountancy, human resources, engineering, energy and pharmaceuticals sectors.  


Following the establishment of its first business, Computer Futures, in 1986, the Group adopted a multi-brand strategy. SThree currently operates 12 separately managed brands, the four largest being Computer Futures, Huxley Associates, Progressive and Pathway, and has 33 offices in the UK and 19 overseas offices, 15 elsewhere in Europe, the Netherlands, Belgium, France, Germany and Ireland. In 2006, the Group opened its first North American office, in New York, and recently opened offices in AustraliaHong Kong and Dubai.


SThree has a selective approach to clients and focuses on high margin opportunities, predominantly within the small to medium-sized enterprises ('SMEs') market and, from its inception, the Group has avoided the high volume, low margin business model in favour of a focus on high quality business.



This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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