SThree confident 2014 will see perm recruitment pick-up
6 December 2013
Professional recruiter SThree says it expects its permanent division to come back from a weak 2013 in which it lost consultants, having increased perm consultant headcount 8% in the last six months.
Fri, 6 Dec 2013
Professional recruiter SThree says it expects its permanent division to come back from a weak 2013 in which it lost consultants, having increased perm consultant headcount 8% in the last six months.
Permanent recruitment gross profit for the year to 1 December was £85.3m, down 14% on the previous year. Contract gross profit was up 4% although group-wide gross profit still dropped overall, from £199.5m to £192.8m.
Chief executive officer Gary Elden comments: “Our permanent business continued to feel the effects of the resourcing issues that we highlighted at the interims, but with permanent consultant headcount up 8% since the half year, we expect to see an improved performance from this business in 2014.
The company saw average headcount in the permanent division across the year 11% lower than 2012, the results note. However, having taken on staff in the second half, it saw permanent gross profit rebound 2% between Q3 and Q4.
In the UK, the company’s permanent consultancy headcount has risen throughout the second half to bring it back to the level it was at the beginning of 2013.
Elden adds: “Overall, while we have seen some improvement in economic confidence in a number of our markets during the second half of the year, the picture remains mixed and it is still too early to call a broadly based recovery.”
The trend for business generated outside the UK & Ireland and outside ICT disciplines becoming an ever bigger part of the group continued, although gross profit in both areas declined marginally.
Elden has been CEO for the vast majority of this financial period, stepping into the job on 1 January 2013 after predecessor Russell Clements departed from the business earlier than previously announced.
The recruitment firm's full results are available online via the its website. The above year-on-year comparison figures ignore gross profit from The IT Job Board, which SThree sold in the summer.
Professional recruiter SThree says it expects its permanent division to come back from a weak 2013 in which it lost consultants, having increased perm consultant headcount 8% in the last six months.
Permanent recruitment gross profit for the year to 1 December was £85.3m, down 14% on the previous year. Contract gross profit was up 4% although group-wide gross profit still dropped overall, from £199.5m to £192.8m.
Chief executive officer Gary Elden comments: “Our permanent business continued to feel the effects of the resourcing issues that we highlighted at the interims, but with permanent consultant headcount up 8% since the half year, we expect to see an improved performance from this business in 2014.
The company saw average headcount in the permanent division across the year 11% lower than 2012, the results note. However, having taken on staff in the second half, it saw permanent gross profit rebound 2% between Q3 and Q4.
In the UK, the company’s permanent consultancy headcount has risen throughout the second half to bring it back to the level it was at the beginning of 2013.
Elden adds: “Overall, while we have seen some improvement in economic confidence in a number of our markets during the second half of the year, the picture remains mixed and it is still too early to call a broadly based recovery.”
The trend for business generated outside the UK & Ireland and outside ICT disciplines becoming an ever bigger part of the group continued, although gross profit in both areas declined marginally.
Elden has been CEO for the vast majority of this financial period, stepping into the job on 1 January 2013 after predecessor Russell Clements departed from the business earlier than previously announced.
The recruitment firm's full results are available online via the its website. The above year-on-year comparison figures ignore gross profit from The IT Job Board, which SThree sold in the summer.
- Click for news of a permanent recruitment mini-boom at Randstad reported by recruiter.co.uk last week.
