logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Stocks fluctuated in morning trading on Friday before once again coming under pressure over the course of the afternoon. The major averages extended the sharp pullback seen on Thursday, ending the session at their lowest closing levels since late 2020. Consumer sentiment in the U.S. improved by less than initially estimated in the month of September, according to revised data released by the University of Michigan on Friday. The University of Michigan said the consumer sentiment index for September was downwardly revised to 58.6 from the preliminary estimate of 59.5. Chicago-area business activity unexpectedly contracted in the month of September, according to a report released by MNI Indicators on Friday. MNI Indicators said its Chicago business barometer slumped to 45.7 in September from 52.2 in August, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 51.8.
RELATED NEWS
Follow RTT