Business
Half Year Trading Update
Half Year Trading Update.
About this update from Sthree Plc
[{"type":"text","content":"\n \n\n\nSThree (STEM)\n\n\n\nSThree: Half Year Trading Update20-Jun-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\n20 June 2022\n\n \n\nSThree plc\n\n \n\nHalf Year Trading Update\n\n \n\nDouble-digit net fee growth across all regions and sectors\n\n \n\nTrading ahead of market expectations\n\n \n\nSThree plc (\"SThree\" or the \"Group\"), the only global pure-play specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics (‘STEM’), is pleased to issue a trading update for the half year ended 31 May 2022.\n\n \n\nHighlights \n\n \n\nQ2 net fees up 23% YoY(1) against a non-Covid impacted comparative period, demonstrating excellent new placement activity\n H1 highlights:\n Group net fees up 25% YoY\n Very strong YoY growth in our three largest markets: Germany up 22%, USA up 21%, Netherlands up 41%\n Largest three countries represent 73% of Group net fees, with Germany representing 31%, USA 25% and Netherlands 17%\n Strong double digit growth across all our key sectors: Technology up 30%, Life Sciences up 16% and Engineering up 27%\n Contract and Permanent net fees for H1 up 30% and 11% respectively \n Contractor order book(2) up 35% YoY, providing good visibility into H2 and underpinning continued confidence in the near term outlook\n \n Robust balance sheet with net cash at 31 May 2022 of £48m (31 May 2021: £48m)\n The Board now expects that profit before tax for the 12 months to 30 November 2022 will be at least 5% ahead of market consensus(3).\n \n\nTimo Lehne, Chief Executive, commented: \n\n \n\n“Our Group has delivered another excellent quarter of growth, driven by successes across all key regions and STEM disciplines. As a result of this strong performance, we are now trading ahead of market expectations for the 2022 full year.\n\nOur business had largely recovered from the pandemic in Q2 last year, so this is the first period in which we have been able to provide a true like-for-like comparison; net fee growth of 23% in Q2 is therefore a significant achievement. Our focus on flexible working, both independent and employed contractors, is delivering, and for the second consecutive quarter we are delighted to be able to ...