International IT recruiter SThree reports “improving performance” across all the regions in which it operates, according to a trading update for the six-month period ending 29 May 2011.

The group’s results reveal:

• Group gross profit achieved in the period increased by 23%* year-on-year to circa £90m (2010: £74.3m).
• UK gross profit increased by 9% and non-UK gross profit increased by 34%*.
• Non-UK now represents 63% of gross profit (2010 full year: 60%). Permanent gross profit increased by 34%*
• Contract gross profit increased by 15%*.
• Permanent represented 50% of gross profit (2010 full year: 49%).
• All regions continuing to show improving performance
• Permanent gross profit up 34%* year-on-year
• Contract gross profit up 15%* year-on-year
• Group gross profit up 23%* year-on-year
• Improvement in both permanent and contract fees
• Sales headcount growth of 14% year-on-year
• New offices opened in Sao Paulo, Doha and Antwerp
• Strong financial position with net cash of circa £47m at period end

* at constant currency

Chief executive Russell Clements says: “The group continued to make further progress during the first half, with Q2 gross profit up 27%* year-on-year, ahead of Q1 gross profit up 19%* year-on-year, despite progressively tougher comparatives.

“We continued to roll out new international offices during the period and plan to expand our global presence further through adding new locations during the second half of this year and beyond.”