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Russell Clements, Chief Executive Officer, commented: "Seen in the context of strengthening comparatives and the fact that macroeconomic sentiment deteriorated over the quarter, the Group delivered a positive performance. "We feel that the Group's resources are appropriate, both in terms of scale and the markets in which they are deployed. Our current deal pipeline reflects a healthy level of demand in most of our markets but we remain mindful of the state of the broader economic backdrop as we enter our final and traditionally, most important quarter. "Our business remains highly cash generative, allowing us to continue to invest in the Group's excellent medium term potential and to maintain our robust attitude towards dividends."
Interim Management Statement SThree plc ("SThree" or the "Group"), the international specialist staffing business, today issues an Interim Management Statement for the period from 30 May 2011 to date. The financial data relates to the three month period ending 28 August 2011, being the third quarter of the financial year ending 27 November 2011. Highlights: · Permanent gross profit up 23%* year on year · Contract gross profit up 12%* year on year · Group gross profit up 18%* year on year · Improvement in both permanent and contract fees · Sales headcount growth of 20% year on year and 11% vs half year 2011 · New offices opened in Zurich, Luxembourg and Mumbai · Strong financial position with net cash of circa £40m at period end
http://www.investegate.co.uk/Article.aspx?id=201109090700079262N
Peel Hunt upgrades SThree from hold to buy, target price cut from 400p to 285p.
Merchant Securities SThree from buy to hold, target price cut from 500p to 225p
http://www.investegate.co.uk/Article.aspx?id=201107261118390804L
SThree offers special divi as profit surges Date: Monday 18 Jul 2011 LONDON (ShareCast) - Staffing business SThree reported a 52% surge in pre-tax profit for the six months ended 29 May 2011 and has offered a special dividend of 11p. The group reported a robust first half performance as its markets improved. Pre-tax profit rose to £11.2m during the six months from £7.3m the year before. Revenue rose to £254.9m from £221.7m previously. Like for like gross profit was up 23%.
Russell Clements, CEO, commented: "During the first half of the year the Group benefited from a continued improvement in market conditions across all of our territories. The result was a performance which positions the Group well for the remainder of the year. That said, given the strong seasonality of our business, we are targeting for the second half to be a very significant contributor to our results for 2011 as a whole, as has historically been the case. "We have continued to invest in the Group's future growth by scaling-up our capacity in established territories and markets, as well as opening new offices and addressing complementary specialist staffing segments. As a result the Group is more diversified and international than at any other time in its history, with almost two thirds of the business coming from outside of the UK. We expect our long established international office roll out programme to continue, with a number of further new offices scheduled to open during the second half of the year. "With recovery now evident across our markets, it is pleasing to be able to announce the intention to pay a special dividend in addition to our usual interim dividend. The strong cash generative nature of our business will, we believe, allow us to periodically review our capital requirements with a view to, where prudent, returning further value to our shareholders in this manner. We are confident that this can be achieved whilst continuing to invest appropriately to support the Group's ambitious global growth plans. "The Group has entered the second half in good shape, notwithstanding some evidence of a softening of UK demand in recent weeks, and our expectations for the full year remain unchanged."
Operational Highlights • Pleasing first half performance in a sequentially improving market. Gross Profit up 21% year on year to £90.0m (2010: £74.3m). Like for like ("LFL") Gross Profit up 23% • Permanent placements up by 21% to 3,450 (2010: 2,842) - average permanent placement fee up 8% LFL to a record £12,851 (2010: £11,861) • Number of active contractors at period end up by 11% year on year to 4,381 (2010: 3,952) - average gross profit per day rates increased by 6% LFL to a record £88.10 (2010: £83.24). Average contract margin achieved of 21.4% (2010: 21.4%) • Contract versus Permanent mix of Gross Profit now 50:50 (Full year 2010: 51:49 in favour of Contract) • Non-UK Gross Profit for the period represented 63% of the Group total (Full year 2010: 60%) • Rest of World (excluding UK and Europe) Gross Profit grew to 13% of mix (Full year 2010: 11%), up 43% LFL • Non-ICT business segments grew by 42% LFL, now representing 40% of total Gross Profit (Full year 2010: 38%) • Sales headcount up 14% year on year and 12% versus year end 2010 position, as the Group scales up its existing operations and opens into new sectors and geographies • New offices opened in Sao Paulo, Doha and Antwerp • Net cash position remains strong at £48.3m (2010: £31.6m) • Interim dividend increased by 17.5% to 4.7p (2010: 4.0p) • Special dividend of 11.0p per share payable on 2 December 2011, a cash outflow of circa £13.5m
http://investegate.co.uk/Article.aspx?id=201107180700085261K
http://www.investegate.co.uk/Article.aspx?id=201106080700070315I
Improvement across the board at SThree Date: Wednesday 08 Jun 2011 LONDON (ShareCast) - Staffing business SThree reported a 23% increase in gross half year profit after an improved performance across all regions. The provider of permanent and contract staff said group gross profit rose to around £90m for the six month period ended 29 May 2011 from £74.3m in 2010. UK gross profit increased by 9% and non-UK gross profit increased by 34%. Non-UK now represents 63% of gross profit, up from 60% the year before. Permanent gross profit increased by 34% and contract gross profit increased by 15%. A total of 3,450 permanent placements were made during the six months compared to 2,842 a year earlier. Group sales headcount at May 29 was up 12% from the year-end and up 14% year on year. Sthree opened new offices opened in Sao Paulo, Doha and Antwerp and plans to open offices in Zurich, Luxembourg, and Chicago in the second half. The group had net cash of £47m at the period end.
Al ot of staffing Companies doing very well just now.
Russell Clements, Chief Executive, commented: "For seasonal reasons, the first quarter is the Group's least significant in terms of the year as a whole. Nonetheless, it is encouraging to see that all of the regions in which we operate have remained on an upward trend. We also take confidence from our deal pipeline, with deals agreed but yet to start up by more than 30% year on year. In addition, the performance of our contract business during the quarter has been the strongest in recent years. We have started 2011 in good shape to take full advantage of an improving market opportunity and as a more international and diversified business than at any time in our history."
Highlights: · All regions continuing to show improving performance · Permanent gross profit up 32%* year on year · Contract gross profit up 8%* year on year · Group gross profit up 19%* year on year · Permanent deal pipeline volume up in excess of 30% year on year · Strong financial position with net cash of circa £49m at period end
http://www.investegate.co.uk/Article.aspx?id=201103040700083158C
Recruiter SThree (STHR) reported a jump in year-on-year gross profit for the first-quarter ended 27th February 2011, helped by improved performances across all of its regions, and said 2011 has started well. The company, which provides both permanent and contract specialist staffing services in the UK and Europe, said gross profit increased by 19% on the comparable period a year earlier to approximately 42 million pounds. Commenting on this, chief executive Russell Clements said: "We have started 2011 in good shape to take full advantage of an improving market opportunity and as a more international and diversified business than at any time in our history." SThree shares fell 9.8p to 420p.
Recruiter SThree confirmed profits will tumble this year, though it says conditions have started to stabilise. Full year gross profit will be about £168m, down 23% year on year (2008: £218.9m).
On a bid for STHR refuse to go away, Adecco have £940m available for aquisitions, 350p per share believed to be offer price. Interestingly STHR hasnt denied all this press speculation.
Selll - re-iteration Target 109.00p
So today they announce the worst news for jobs in the services sector since the 1920's and this share rockets! Anyone know what's going on???
Anyone know what is happening with this share? Could be ripe for a take over !!!
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