Business
FY25 Final Results
SThree plc reported final results for the year ended 30 November 2025, with revenue at £1,302.2 million and net fees at £322.7 million, both down 13% reported and 12% like-for-like compared to the prior year. Operating profit decreased significantly to £26.1 million from £66.2 million, resulting in a profit before tax of £25.5 million, down 62%. The company completed its Technology Improvement Programme (TIP) rollout and announced a further share buyback of up to £20 million, maintaining a final dividend of 9.2 pence per share. Despite a challenging macroeconomic environment, SThree ended the year with encouraging new business activity and a net cash position of £68.0 million. Disclaimer*
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[{"type":"text","content":"\n\nSThree plc\n \nFINAL RESULTS FOR THE YEAR ENDED 30 NOvember 2025\n \nFY25 PERFORMANCE IN LINE AND ENDING YEAR WITH ENCOURAGING MOMENTUM\nTIP ROLLOUT COMPLETE, LAUNCH OF FURTHER SHARE BUYBACK\n \nSThree plc ('SThree' or the 'Group'), the global STEM workforce consultancy, today announces its financial results for the year ended 30 November 2025.\n \n\n\n\n\nContinuing operations\n\n\n FY25\n\n\n FY24\n\n\nVariance\n\n\n\n\nReported\n\n\nLike-for-like (1)\n\n\n\n\nRevenue (£ million)\n\n\n1,302.2\n\n\n1,492.9\n\n\n-13%\n\n\n-12%\n\n\n\n\nNet fees (£ million)\n\n\n322.7\n\n\n369.1\n\n\n-13%\n\n\n-12%\n\n\n\n\nOperating profit (£ million)\n\n\n26.1\n\n\n66.2\n\n\n-61%\n\n\n-60%\n\n\n\n\nOperating profit conversion ratio\n\n\n8.1%\n\n\n17.9%\n\n\n-10% pts\n\n\n-10% pts\n\n\n\n\nProfit before tax (£ million)\n\n\n25.5\n\n\n67.6\n\n\n-62%\n\n\n-62%\n\n\n\n\nBasic earnings per share (pence)\n\n\n13.7\n\n\n37.4\n\n\n-63%\n\n\n-63%\n\n\n\n\nProposed final dividend per share (pence)\n\n\n9.2\n\n\n9.2\n\n\n-\n\n\n-\n\n\n\n\nTotal dividend (interim and final) per share (pence)\n\n\n14.3\n\n\n14.3\n\n\n-\n\n\n-\n\n\n\n\nNet cash (£ million)(2)\n\n\n68.0\n\n\n69.7\n\n\n-2%\n\n\n-2%\n\n\n\n\n(1) Variance compares the reported results for FY25 against FY24 on a constant currency basis, whereby the prior year foreign exchange rates are applied to current and prior financial year results to remove the impact of exchange rate fluctuations.\n(2) Net cash represents cash and cash equivalents less borrowings and excluding leases.\n \nFINANCIAL Highlights\n\n\n\n\n· \n\n\nGroup net fees declined by 12% YoY(3) (FY24: YoY decline of 9%) in a challenging macroeconomic environment. Notably, across the year, the rate of decline improved sequentially each quarter, supported by the USA returning to growth. \n\n\n\n\n\n\n\no \n\n\nOur three largest countries accounted for 72% of Group Net Fees: the USA grew by 4%, while Germany and the Netherlands declined by 16% and 21% respectively.\n\n\n\n\n\n\n\no \n\n\nSkills: Engineering net fees declined by 6% YoY, with the performance supported by strong demand in the USA. Life Sciences and Technology declined by 13% and 18% YoY respectively, amid ongoing market uncertainty.\n\n\n\n\n· \n\n\nContrac...