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SThree full year profit and revenue jump

Mon, 25th Jan 2016 12:21

(ShareCast News) - Specialist staffing business SThree posted a rise in full-year revenue and pre-tax profit thanks to strength in the group's ICT and life sciences divisions, which offset a weak performance in the energy unit.For the year to 30 November, revenue came in at £848.8m compared with £746.9m in 2014, while reported pre-tax profit rose to £37.7m from £29.3m.The company said its contract business performed strongly, with gross profit increasing 17% year on year, while the Americas business saw gross profit up 26% year-on-year, driven by growth in ICT, Life Sciences and Banking & Finance.SThree said it is continuing to invest for the future, adding further space in New York and new offices in Austin and Minneapolis during the first half of 2016.Chief executive officer Gary Elden said: "While the trading environment remains broadly positive in the majority of our territories, we note that the global macro-economic uncertainties we identified in our last trading update have increased further recently, with greater risks to global growth. Oil & gas market conditions remain challenging and FX volatility persists."Against this backdrop, we will continue to invest selectively in our high performing teams around the world to grow our business and capitalise on market opportunities, especially in Contract, ICT, Life Sciences and the Americas."At 1231 GMT, shares were up 2.4% to 304.63p.
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