Sthree Q2 Net Fees Climb; Now Sees FY22 Pre-tax Profit Ahead Of Market View; Stock Up

SThree Plc (STHR.L), a pure-play specialist staffing business, reported Monday that its second-quarter Group net fees climbed 23 percent from last year, against a non-Covid impacted comparative period.

Contract net fees grew 29 percent, and permanent net fees increased 5 percent.

For the first half, net fees grew 25 percent to 203.1 million pounds from 164.3 million pounds a year ago. Contract net fees grew 30 percent, and permanent net fees increased 11 percent.

Contractor order book was up 35 percent from last year, providing good visibility into the second half.

Looking ahead for fiscal 2022, the Board now expects that profit before tax will be at least 5 percent ahead of market consensus of 66.2 million pounds.

Timo Lehne, Chief Executive, said, "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, we are now trading ahead of market expectations for the 2022 full year."

The company plans to issue its interim results on July 25.

In London, Sthree shares were trading at 338.50 pence, up 6.1 percent.

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