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(Alliance News) - SThree PLC on Monday said net fees in its first quarter were similar to pre-pandemic levels.
Net fees for its first quarter ended February 28 were GBP75.5 million, down just 1% at constant currency on a year ago and marking an improvement from a 7% slide in the fourth quarter of its 2020 financial year.
"I'm pleased to announce that we've seen improved underlying activity across each region of the group during the first quarter. This follows the significant sequential quarterly improvement in the previous half," said Chief Executive Mark Dorman.
The recruitment firm, focused on roles in science, technology, engineering and mathematics, said it saw growth in a number of regions and sectors in the quarter despite the pandemic. There was "encouraging growth" in Germany, Austria and Switzerland, with net fees up 3%, while the US posted a 19% increase.
Europe, the Middle East and Africa - excluding Germany, Austria and Switzerland - saw net fees declining 14%, reflecting the UK's performance, which was down 17%.
Dorman said: "Looking ahead, we continue to pursue strategic initiatives we believe will drive further success. We are investing in our platform and are further enhancing our go-to-market strategy to position ourselves for regional and sector-specific opportunities."
Shares in SThree were up 0.6% at 350.00 pence in London on Monday.
By Lucy Heming; lucyheming@alliancenews.com
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