Speakers from Touchstone Exploration, Shanta Gold, Savannah Resources and Kavango Resources feature in our Natural Resources webinar on May 25th. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSthree Share News (STEM)

Share Price Information for Sthree (STEM)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 400.00
Bid: 398.50
Ask: 400.00
Change: 2.00 (0.50%)
Spread: 1.50 (0.38%)
Open: 399.00
High: 405.00
Low: 397.50
Yest. Close: 398.00
STEM Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

SThree Net Fees Fall In Third Quarter And Braces For Australia Exit

Mon, 14th Sep 2020 10:29

(Alliance News) - Staffing firm SThree PLC on Monday said its third quarter continued to be hit by Covid-19 though it has seen a "significant uptick in general sales activity".

SThree's net fees fell 14% year-on-year to GBP75.7 million in the period to August 31.

The Europe, Middle East & Africa region, excluding Germany, Austria and Switzerland, saw a 22% net fees decline. The company's Germany, Austria and Switzerland operations had a 9% decline.

In Asia Pacific, net fees fell by a third and in the US, they slipped 3%.

SThree - which is focused on the science, technology, engineering, and mathematics sector - explained it has been assessing which "regions represent the best STEM markets" and can allow it to grow in market share. The company said it will close its Australian operations by the end of November.

"Group net fees in quarter three declined 14% in the year as performance continues to be impacted by declines in aggregate demand as a result of the Covid-19 pandemic across all of our territories and sectors," SThree said.

Promisingly, the company hailed its "balance sheet strength" which has allowed it to return staff from furlough and pay back a GBP50 million revolving credit facility.

Chief Executive Mark Dorman said: "Whilst the year-on-year decline in net fees was marginally greater in quarter three than quarter two, there has been an improving underlying sequential performance in the business since the half year. We have seen a significant uptick in general sales activity levels across most regions, improving contractor retention levels and thus a stabilisation of the contractor order book."

SThree shares were 2.8% higher at 253.50 pence each in London on Monday morning.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

More News

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

14 May 21 16:09

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

30 Apr 21 16:08

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

15 Apr 21 14:58

Monday broker round-up

(Sharecast News) - Moonpig Group: Citigroup initiates at buy with a target price of 550p.

15 Mar 21 14:06

BROKER RATINGS: Four banks say feast on Moonpig shares

BROKER RATINGS: Four banks say feast on Moonpig shares

15 Mar 21 09:44

SThree pleased with quarterly performance as fees at pre-virus level

SThree pleased with quarterly performance as fees at pre-virus level

15 Mar 21 09:30

SThree delivers 'strong' Q1 performance

(Sharecast News) - Staffing business SThree said on Monday that it had delivered a "strong performance" in the first quarter of its trading year, with net fees coming in flat year-on-year.

15 Mar 21 08:40

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

8 Mar 21 16:05

BROKER RATINGS: Fresnillo And Pets At Home Get Downgrades

BROKER RATINGS: Fresnillo And Pets At Home Get Downgrades

28 Jan 21 09:34

SThree Resumes Dividend But Annual Profit Drops As Fees Suffer

SThree Resumes Dividend But Annual Profit Drops As Fees Suffer

25 Jan 21 11:27

SMALL-CAP WINNERS & LOSERS: Travel Sector Hit As Global Barriers Go Up

SMALL-CAP WINNERS & LOSERS: Travel Sector Hit As Global Barriers Go Up

25 Jan 21 10:47

BROKER RATINGS: Sage And Standard Chartered Both Receive Upgrades

BROKER RATINGS: Sage And Standard Chartered Both Receive Upgrades

25 Jan 21 09:37

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

18 Jan 21 16:07

IN BRIEF: SThree Expects 8% Decline In Annual Net Fees After Virus Hit

IN BRIEF: SThree Expects 8% Decline In Annual Net Fees After Virus Hit

14 Dec 20 17:42

SThree sees 'significant' uplift in fourth quarter

(Sharecast News) - SThree said group fees would be 8% lower in 2020 but that business had shown a "significant" improvement in the fourth quarter of the year.

14 Dec 20 11:52

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.