SThree backs view but net fees drop in first quarter; CFO to depart

(Alliance News) - SThree PLC on Tuesday said net fees declined in its first quarter, and it announced the departure of its chief financial officer later this year.

The London-based science, technology, engineering and mathematics-focused staffing firm said that net fees in the first quarter to February 28 fell 8.5% on-year to GBP71.7 million from GBP78.4 million. At constant currency, the decline was 8%.

In its Contract division, which generates the bulk of SThree's net fees, the decline was 9.1% on-year to GBP59.8 million. At constant currency, Contract net fees fell 10%.

The company reaffirmed its guidance for the full year of pretax profit around GBP10 million, a 61% decline from GBP25.5 million in financial 2025.

Additionally, SThree announced that its Chief Financial Officer Andrew Beach will step down at the firm's annual general meeting on April 29, although he will remain with the firm until July 21, when the company announces its half year results, to support the handover.

Damian Fehrenberg, current senior vice president of the US Finance division, will step in as interim CFO from April 30. The process to identify a permanent successor is ongoing.

Beach said that "with stable performance being delivered, [2026 financial year] expectations reiterated and the [Technology Improvement Programme] now successfully deployed, it feels like the right time for me to consider the next phase of my career".

SThree shares were up 2.4% to 170.66 pence each on Tuesday afternoon in London.

By Martin Miraglia, Alliance News reporter

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