Business
FY26 Q1 Trading Update
SThree plc reported a stable first quarter for FY26, with group net fees down 8% year-on-year to £71.7 million, reflecting continued stabilization and an improvement on the prior year's decline rate, supported by growth in the USA and Japan. Contract net fees decreased by 10% to £59.8 million, while permanent placements remained flat at £11.9 million. The contractor order book stands at £152 million, and the company maintains a robust balance sheet with net cash of £51 million. SThree reiterated its full-year profit before tax expectation of approximately £10 million and has launched a share buyback program of up to £20 million. Disclaimer*
About this update from Sthree Plc
[{"type":"text","content":"\n\n17 March 2026\n \nSThree plc\n \nFY26 Q1 Trading Update\n \nStable performance as anticipated, FY26 expectations reiterated\n \n \nSThree plc (\"SThree\" or the \"Group\"), the global STEM workforce consultancy, today issues a trading update covering the period 1 December 2025 to 28 February 2026.\n \nQ1 Highlights \n \n\n\n\n\n· \n\n\nGroup net fees down 8% YoY(1), reflecting continued stabilisation, supported by ongoing growth in the USA and Japan, and a significant improvement on the prior-year rate of decline.\n\n\n\n\n· \n\n\nKey contract renewal period concluded and new business activity broadly consistent year-on-year, with both performing in line with expectations.\n\n\n\n\n· \n\n\nContract (83% of net fees) declined 10% YoY, whilst Permanent was flat YoY.\n\n\n\n\n· \n\n\nContractor order book(2) of £152 million (down 7% YoY) continues to represent sector-leading visibility with the equivalent of circa five months' net fees. \n\n\n\n\n· \n\n\nRobust balance sheet with net cash of £51 million at 28 February 2026 (28 February 2025: £45 million).\n\n\n\n\n· \n\n\nShare buyback programme of up to £20 million launched in February, with £1.6 million purchased as at 16 March 2026.\n\n\n\n\n· \n\n\nFY26 cost optimisation programme progressing as planned, with costs to deliver weighted to H1 and savings expected from H2.\n\n\n\n\n· \n\n\nPerformance for FY26 expected to be in line with the previously announced c.£10 million PBT guidance(3).\n\n\n\n\n \nTimo Lehne, Chief Executive, commented:\n \n\"Trading in the first quarter of FY26 has started in line with expectations, with continued stability across our business and encouraging momentum in select markets, notably the USA and Japan. New business activity was consistent with the prior year, which is particularly encouraging given a lower sales headcount, demonstrating improved productivity and operational efficiency. This perf...