Business
FY17 Trading Update
FY17 Trading Update.
About this update from Sthree Plc
[{"type":"text","content":"\n \nSThree (STHR)SThree: FY17 Trading Update15-Dec-2017 / 07:00 GMT/BSTDissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.The issuer is solely responsible for the content of this announcement.\n\n15 December 2017\n\n \n\n \n\n \n\nFY17 Trading Update\n\n \n\n \n\nSThree plc (\"SThree\" or the \"Group\"), the international specialist staffing business, is today issuing a trading update for the financial year ended 30 November 2017.\n\n \n\nHighlights\n\n \n\nStrong finish to the year with Group gross profit (\"GP\") up 8%* in Q4\n Excellent Q4 performance in Continental Europe up 16%*, including Contract up 24%*\n Adjusted profit before tax for the year expected to be slightly ahead of current market consensus\n Group GP up 4%* for FY17 \n Strong growth in USA, up 18%*, with Permanent up 12%* and Contract up 21%* \n Robust growth in Continental Europe up 9%* driven by Netherlands up 20%* YoY\n Continued recovery in Energy up 25%* and solid growth in Life Sciences up 7%* \n 80% of Group GP generated from markets outside the UK&I (2016: 75%)\n UK&I continued to be challenging, impacted by IR35 in the public sector \n \n Contract GP up 10%*\n Growth across all sectors\n Continental Europe up 17%* and USA up 21%* \n Strong exit rate on Contract, with a new record number of runners at year end, up 12% \n \n Permanent GP down 8%*, with average sales headcount down 10%\n Group period-end sales headcount up 10% YoY and up 7% sequentially vs Q3 2017\n \n\n1 Market expectations for adjusted profit before tax for the year ended 30 November 2017 are in the range of £42.0m to £45.6m, with a consensus of £43.8m\n\n \n\n \n\nGary Elden, Chief Executive, commented: \"We have delivered an encouraging overall result for the year, and now expect full year profit to be slightly ahead of consensus. Strong performances in the USA and Continental Europe, particularly from our market-leading business in the Netherlands and our business in Germany, were key to the delivery of this result. Our Contract business continued to perform robustly, with GP increasing by 10%* year on year and with contract runners at the period end reaching in excess of ten thousand, a milestone for...