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
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • 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;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • 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.

 Information  X 
Enter a valid email address

SThree plc (STHR)

  Print      Mail a friend       Annual reports

Friday 09 March, 2012

SThree plc

Interim Management Statement

RNS Number : 9967Y
SThree plc
09 March 2012
 



9 March 2012

Q1 Interim Management Statement

 

SThree plc ("SThree" or the "Group"), the international specialist staffing business, is today issuing an Interim Management Statement covering the period from 28 November 2011 to date; financial information relates to the quarter ended 26 February 2012.

 

Highlights:

 

·    Group gross profit up 15%* year on year (up 12%* in Q4 2011)

·    Permanent gross profit up 16%* year on year (up 14%* in Q4 2011)

·    Contract gross profit up 13%* year on year (up 9%* in Q4 2011)

·    Permanent deal pipeline volume up 11% year on year (up 1% at year end 2011)

·    Seasonal recovery in contract runners tracking broadly in line with 2011

·    Strong financial position with net cash of circa £30m at period end after payment of interim and special dividend of c£20m in early December 2011

 

Financial Highlights - Group Gross Profit

 


Q1
2012

Q1
2011

Q1
2012
yoy % Var*

Q4
2011
yoy % Var*

Group

£47.7m

£41.7m

+15%

+12%

Permanent

£24.1m

£20.9m

+16%

+14%

Contract

£23.6m

£20.8m

+13%

+9%


£47.7m

£41.7m

+15%

+12%











UK&I

£16.7m

£16.5m

+1%

-7%

Non UK&I

£31.0m

£25.2m

+24%

+24%


£47.7m

£41.7m

+15%

+12%

Permanent/Contract Split





Permanent

51%

50%



Contract

49%

50%




100%

100%



Geographical Split





UK&I

35%

40%



Non UK&I

65%

60%




100%

100%



ICT/Non ICT Split





ICT

57%

59%



Non ICT

43%

41%




100%

100%



* At constant currency





 

Operating Metrics

 


Q1
2012
Number

Q1
2011
Number

Q1
2012
yoy % Var

Q4
2011
yoy % Var

Permanent Placements**

1,674

1,604

+4%

+3%

UK&I



-4%

-11%

Non UK&I



+9%

+12%






Group



+4%

+3%






Contract Runners***

4,461

4,207

+6%

+8%

UK&I



-1%

+1%

Non UK&I



+14%

+15%






Group



+6%

+8%






** Excluding retainers
*** Period end number of contractors on site with clients and being billed

 

 

Average placement fees for the quarter have grown strongly year on year, despite continuing weakness in the global banking and finance market, with particularly strong performances from Energy and Pharmaceuticals & Biotechnology. Average contractor gross profit per day rates also strengthened year on year during the quarter.

 

Group sales headcount at 26 February 2012 was broadly level versus the year end, and up 27% year on year. UK sales headcount was up 8% year on year, but down 4% quarter on quarter, and non-UK sales headcount was up 40% year on year, and up 2% quarter on quarter. Average sales headcount in the quarter was up 29% year on year.

 

The current permanent deal pipeline shows an increase of 11% year on year, versus a 1% increase at the year end.

 

The Group opened offices in Oslo and San Diego during the quarter, taking the total to 62 offices in 18 countries.

  

The Group remains in a strong cash position with net cash of circa £30m at 26 February 2012. 

 

Russell Clements, Chief Executive, commented:

 

"For seasonal reasons, the first quarter is the Group's least significant in terms of the year as a whole. Nonetheless, it is pleasing to note that our gross profit growth year on year has improved in Q1 2012 compared to Q4 2011. We are also reassured by our permanent deal pipeline, with deals agreed but yet to start up by 11% year on year. In addition, the normal seasonal recovery in contract runners is following a similar shape to 2011.

 

"There remain significant differences within both geographies and sectors in the demand for the Group's services but, overall, market conditions remain in far better shape than we saw in the aftermath of the global financial crisis. We are a cash rich and agile business, with a twenty five year track record of profitability and a seasoned management team. As such, we are well placed to maximise the potential of whatever market conditions prevail in 2012." 

 

SThree is hosting an analyst conference call today at 0830 GMT. The details are as follows:

 

Telephone number:  +44 (0) 20 3003 2666

For access to the call please quote Confirmation Code: SThree

The Group will issue a trading update for the six months ended 27 May 2012 on 8 June 2012 and its interim results for the six months ended 27 May 2012 will be announced on 16 July 2012.

 

* at constant currency

** excludes retained business 

 

 

- Ends -

 

 

Enquiries:


SThree plc

020 7268 6000

Russell Clements, Chief Executive Officer


Alex Smith, Chief Financial Officer


Sarah Anderson, Deputy Company Secretary/IR enquiries

 


Citigate Dewe Rogerson

020 7638 9571

Kevin Smith/Nicola Swift


 

 

Notes to editors

 

SThree is a leading international specialist staffing businesses, providing permanent and contract specialist staff to a diverse client base of over 7,000 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 to include businesses serving Banking, Engineering & Energy, Pharmaceuticals & Biotechnology, Accountancy and Job Board sectors.

 

Since launching its original business, Computer Futures, in 1986, the Group has adopted a multi-brand strategy, establishing new operations to address growth opportunities. SThree brands include Computer Futures, Huxley Associates, Progressive and The Real Staffing Group. The Group has circa 2,300 employees in eighteen countries.

 

SThree plc is quoted on the Official List of the UK Listing Authority under the ticker symbol STHR and also has a US level one ADR facility, symbol SERTY.

 

 

Important notice

 

Certain statements in this announcement are forward looking statements. By their nature, forward looking statements involve a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied by those statements. Forward looking statements regarding past trends or activities should not be taken as representation that such trends or activities will continue in the future. Certain data from the announcement is sourced from unaudited internal management information. Accordingly, undue reliance should not be placed on forward looking statements.

 

 

.

 



 


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