LONDON (Alliance News) - Recruitment firm SThree PLC on Friday reported good profit growth in the first half of its financial year, with continental Europe proving particularly strong.
For the six months to May, gross profit rose 11% year-on-year. Continental Europe's gross profit rose 18% year-on-year, with the US climbing 9%. However, in the UK & Ireland, the figure fell 2%.
However, SThree said 82% of its gross profit was recorded outside of the UK & Ireland.
Contract gross profit was up 14% year-on-year for its first half, with strong growth in all sectors. This segment makes up almost three-quarters of group gross profit. Permanent gross profit rose 4%.
Chief Executive Gary Elden said: "We are pleased to have delivered an encouraging first half performance, with our continental Europe and USA businesses, in particular, showing strong growth through the second quarter.
"Looking ahead, the continued momentum of our Contract business and improved Permanent yields leaves us well-positioned for the second half and our expectations for the full year remain unchanged."
Shares were up 4.2% on Friday at a price of 344 pence each.
