Business
FY 2022 Trading Update
FY 2022 Trading Update.
About this update from Sthree Plc
[{"type":"text","content":"\n \n\n\nSThree (STEM)\n\n\n\nSThree: FY 2022 Trading Update14-Dec-2022 / 07:00 GMT/BSTDissemination of a Regulatory Announcement, transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n14 December 2022\n\n \n\n \n\nSThree plc\n\n \n\nFY 2022 Trading Update\n\n \n\nRecord performance for the year with double-digit growth across all regions\n\n \n\nSThree plc (‘SThree’ or the ‘Group’), the only global specialist talent partner focused on roles in Science, Technology, Engineering and Mathematics (‘STEM’), is pleased to issue a trading update for the financial year ended 30 November 2022.\n\n \n\nHighlights\n\nGroup net fees for the full year up 19% YoY(1), driven by the execution of our strategy and demand for STEM skills \n Our three largest countries represent 73% of Group net fees (FY 2021: 74%): Germany up 14%, USA up 13% and Netherlands up 34% YoY\n Strong growth across Technology, up 23% and Engineering, up 27%, with Life Sciences continuing to grow 6% against a very strong prior year comparator\n In line with our strategic focus on flexible talent, Contract net fees up 23%; Permanent net fees up 6%\n Contract net fees represent 78% of Group net fees (FY 2021: 75%)\n Strong contractor order book(2) up 19% YoY, providing strong visibility \n Productivity(3) up 7% YoY, reflecting continued strong net fee growth and the quality of our staff and internal recruitment strategy\n Robust balance sheet, with £65m net cash as at 30 November 2022 (30 November 2021: £58m)\n \n\n Timo Lehne, Chief Executive, commented:\n\n \n\n“We have delivered an exceptional performance throughout the period, materially ahead of initial expectations with full year net fee growth of 19% year on year. After my first year as CEO, it is clear that our well-established strategy, focused on STEM and flexible talent, puts us in a unique position to win. \n\n \n\n“During the year we continued to make progress in the implementation of our strategy with targeted investment in our people, talent acquisition and digital infrastructure moving forward as planned. This investment is designed to reinforce our long-term sustainable growth, with most of the year’s costs incurred in the second half as planned. \n\n \n\n“Towards the end of the year we started to see a softer...