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SThree H1 Profit Up On Higher Revenues

SThree plc (STHR.L) reported H1 profit before tax of £44.3 million, a jump of 64% like-for-like compared to £27.6 million last year. On a per share basis, earnings rose to 23.4 pence from the previous year's 14.1 pence per share.

Revenue for the period increased to £772.2 million from £615.1 million generated a year ago.

Operating profit was £44.6 million compared to £28.1 million last year, reflecting a 62% like-for-like increase and an exceptional operating profit conversion ratio of 22%.

Timo Lehne, Chief Executive, said, "Our Group has generated another excellent period of growth, surpassing the milestone of £200 million of net fees in a half year, driven by a strong performance across all our regions and STEM disciplines. Our focus on flexible talent, providing our clients with both independent and employed contractors, continues to deliver, with Contract representing an increasing proportion of our net fee income."

Further, the Board has proposed to pay an interim dividend of 5.0 pence, amounting to about £6.7 million in total. This will be paid on 2 December 2022 to shareholders on record on 4 November 2022.

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