FINANCIALS: SThree posts first-half rise in revenue and profits

Global specialist staffing firm SThree has announced a rise in revenue and profits ahead of analysts’ estimates, after the recruiter’s first-half operating profit more than doubled as hiring rebounded in some sectors.

The staffing firm, which focuses on roles in science, technology, engineering and mathematics (STEM), announced its financial results for the six months ended 31 May 2021.

Mark Dorman, SThree CEO, said: “We are delighted to report strong overall performance in the first half, driven by the hard work of our teams across the globe. Our profit has grown substantially from HY 2020, and has surpassed the pre-pandemic levels of 2019, reflecting the strength of the business and our growth trajectory.”

Revenue rose to £615.1m in the six months to the end of May from £596m the year before, after net fees jumped by 10%.

Reported operating profit doubled to £28.2m from £14.3m, with strong growth achieved in the DACH region and the US, while pre-tax profit leapt to £27.7m from £13.6m. 

Dorman continued: “Profit growth was driven by improving market conditions, including especially strong demand for STEM skills, and productivity growth.

“We are making good progress towards our key strategic ambitions, taking marketshare in our core regions and investing in our infrastructure to build a world class operational platform.”

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