Business
Q3 Trading Update
Q3 Trading Update.
About this update from Sthree Plc
[{"type":"text","content":"\n \n\n\nSThree (STEM)\n\n\n\nSThree: Q3 Trading Update20-Sep-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\n\n \n\n20 September 2022\n\n \n\nSThree plc\n\n \n\nQ3 Trading Update\n\n \n\nFull year profit performance expected to be ahead of consensus\n\n \n\nSThree plc (\"SThree\" or the \"Group\"), the only global pure-play specialist staffing business focused on Science, Technology, Engineering and Mathematics (‘STEM’) skills, is pleased to issue a trading update covering the period 1 June 2022 to 31 August 2022.\n\n \n\nHighlights \n\n \n\nGroup net fees for the quarter up 19% YoY(1) against a very strong comparative period, driven by the continued execution of our strategy\n Continued YoY growth in our three largest countries with Germany up 13%, USA up 9%, and Netherlands up 36%, together representing 73% of Group net fees\n Continued strong growth across Technology, up 25% and Engineering, up 25%, with Life Sciences growing 2% against a very strong prior year comparator\n In line with our strategic focus on flexible talent, Contract net fees are up 21%; Permanent net fees up 10%\n Contractor order book(2) up 24% YoY, underpinning continued confidence in our full year performance\n Strong balance sheet with net cash of £57m at 31 August 2022 (31 August 2021: £51m)\n The Board now expects that profit before tax for the 12 months to 30 November 2022 will be at least 7% ahead of market consensus(3)\n \n\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, together with contractor order visibility, we are again trading ahead of market expectations for the 2022 full year.\n\nThe YoY growth for Q3 builds on the strong performance delivered in the first half of the year. This further period of growth is being driven by our strategic focus on STEM and flexible working, through both independent and employed contractors. \n\nGood progress has also been made in the execution of our wider strategy, with the investment in our people, talent acquisition and digital infrastructure moving forward as planned...