FINANCIALS: SThree reports better than expected results
STEM recruiter SThree reports today [15 March 2021] that its group net fees in Q1 2021 are equalling Q1 2020, with the group’s performance in this year’s first quarter ahead of management expectation.
In its Q1 trading update, the company also reported growth in regions and sectors in spite of the continuing impact of the global pandemic. The DACH (Germany, Austria, Switzerland) region saw net fees up 3%, with the US experiencing a 19% growth in net fees.
Sector-wise, net fees in life sciences were up 14%, with technology up by 1% across the group.
In the past quarter, contract placements represented 75% of SThree’s business with permanent 25%.
The top five countries in net fee performance terms were:
- Germany – £25m
- Netherlands – £11.9m
- UK – £8.1m
- USA – £18.3
- Japan – £1.2m
The Rest of the World received £11m in net fees. The group’s 2,600 staff cover technology, life sciences, engineering and banking & finance sectors.
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