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SThree interim profit jumps as Continental Europe, US perform well

Mon, 23rd Jul 2018 12:22

(Sharecast News) - Recruiter SThree posted a jump in interim profit on Monday as the US and Continental Europe put in solid performances.In the half year to 31 May, gross profit was up 10% to £148.4m, while pre-tax profit was 6% higher at £17.8m, on revenue of £585.8m, up 12% on the same period a year ago.Gross profit in the contract business was up 13% to £106.7m and gross profit in the permanent business was 4% firmer at £41.7m.In Continental Europe, gross profit was up 18%, but the UK & Ireland operations saw a 2% drop on the year.Chief executive officer Gary Elden said: "We have delivered an encouraging first half performance, driven by further strong growth in contract, and our two biggest regions, Continental Europe and the USA."To build on this growth, we are continuing to invest in our highest performing teams, consistent with our vision to be the number one STEM talent provider in the best STEM markets. The group is performing well and we are making good progress against our five-year growth plan."SThree said trading since the period end has continued the positive trend and the group is "well-positioned" as it enters its seasonally more significant second half.Liberum reiterated its 'buy' rating on SThree and nudged up its price target to 430p from 425p as it said the results were "in line" and the outlook "encouraging"."The key highlight from the 1H18 results was that the momentum delivered by the business has continued into the first weeks of 2H18. Although too early to drive material forecast upgrades, we take the opportunity to increase our FY18 EBIT estimate by 2%."We also see SThree as being well-positioned longer term, given its exposure to STEM markets and the more resilient contract business. In our view, the shares offer the most attractive risk-reward profile in the sector, and we reiterate our buy rating and increase our TP."At 1235 BST, the shares were up 0.7% to 350p.
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9 Dec 2016 11:10

UPDATE 1-Recruiter SThree says annual profit to beat consensus

(Adds CEO comments, peer performance, share movement) By Esha Vaish Dec 9 (Reuters) - Recruiter SThree said annual profit would exceed market expectations as strong growth in the United States and Europe more than made up for a slowdown in hiring in its domestic business following Bri

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9 Dec 2016 08:36

SThree sees FY profit touch above top end of market views

(ShareCast News) - Specialist staffing business SThree said on Friday that it expects pre-tax profit for the year to be slightly above the top end of the range of current market expectations of between £37.3m and £39m. In a trading update for the year to the end of November, the company said group p

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9 Dec 2016 08:24

CORRECTED-Recruiter SThree blames Brexit uncertainty for UK profit fall

(Corrects to show full-year rise and to specify 12 pct fall refers to UK and Ireland, paragraphs 1,3) Dec 9 (Reuters) - Recruiter SThree posted a 2 percent rise its full-year gross profit on Friday weighed by an 8 percent fall in Britain and Ireland hurt by a slowdown in finance and the pub

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21 Nov 2016 15:01

Broker tips: European recruiters, Mitie, WS Atkins

(ShareCast News) - HSBC upgraded staffing groups Page, Hays and SThree to 'buy' ratings as the sector is seen as a key beneficiary of impending inflation. Trading down at the low end of where they would expect to be in the cycle compared to industrial stocks, HSBC said recruiters are cheaper relativ

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21 Nov 2016 10:23

HSBC upgrades recruiters on likely inflation boost

(ShareCast News) - HSBC upgraded staffing groups Page, Hays and SThree to 'buy' ratings as the sector is seen as a key beneficiary of impending inflation. Trading down at the low end of where they would expect to be in the cycle compared to industrial stocks, HSBC said recruiters are cheaper relativ

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21 Nov 2016 08:23

LONDON BRIEFING: Essentra And Mitie Woes Sink Midcap Index

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11 Oct 2016 10:48

UPDATE 2-Staffing firm PageGroup says UK market 'fragile' after Brexit

* Says more caution in UK hiring among multinationals * Hiring for finance jobs, higher paid positions most hit * UK Q3 gross profit fell 4.7 pct, less than expected * Group Q3 gross profit up 1.3 pct * Stock up over 4 pct, positive read across for peers (Adds CEO, analy

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9 Sep 2016 09:09

SThree has mixed Q3 due to EU referendum

(ShareCast News) - Recruitment firm SThree experienced a successive mixed quarter as sales in continental Europe grew, but was affected by the EU referendum and a downturn in the energy sector. For the third quarter ended 31 August, gross profit was down 2% to £66m year-on-year, but was ahead by 2%

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2 Sep 2016 15:04

UK Earnings, Trading Statements Calendar - Next 7 Days

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11 Jul 2016 10:09

Lead-up to Brexit vote hits SThree profits

(ShareCast News) - Recruitment company SThree posted first-half numbers on Monday, with an 8% fall in profits being attributed to managers putting hiring decisions on ice in the lead-up to the EU referendum. The London-listed recruiter said group gross profit from permanent placements fell 2% on con

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11 Jul 2016 09:48

WINNERS & LOSERS SUMMARY: CLS Holdings Up As It Buys In Germany

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11 Jul 2016 06:48

SThree Interim Profit Dips On One-Off Costs And Slowdown In UK Market

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6 Jul 2016 08:32

BROKER RATINGS SUMMARY: Macquarie Raises Banks, HSBC Lowers Grocers

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4 Jul 2016 15:16

UK Earnings, Trading Statements Calendar - Next 7 Days

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24 Jun 2016 11:49

Recruiters Hit By Brexit As Industry Body Expects "Challenging Period"

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