TOKYO, JAPAN, Jan 28, 2019 – Leading global STEM (Science, Technology, Engineering and Maths) recruiter, SThree plc, has today announced its GP (Gross Profit) for the year ended Nov 30 2018, was up 12% from £287.7m in 2017 to £321.1m.
APAC & ME now accounts for 5% of SThree’s GP following an increase in gross profit for the region of 7% over 2017. In a region which also includes Australia, Singapore, Malaysia and Dubai, Japan was the standout performer with an increase in GP of 85% over 2017.
This growth was partly due to increased investment in infrastructure and headcount in the country by SThree plc.
The Japanese market shows great potential for SThree to grow a highly profitable Permanent business and the business will continue to invest in headcount in Permanent recruitment in Japan.
83% of SThree’s GP now comes from outside the UK and Ireland and 72% comes from Contract recruitment. The Group’s ongoing strategic focus is weighted towards growing Contract, a less volatile model than Permanent, whilst SThree’s global diversity offsets concerns around political uncertainty in the UK.
Director for SThree plc in Japan, Grant Habgood said: “Our niche focus on STEM and being in the right STEM markets is helping us to build a growing reputation, using a multi-brand approach where each brand is well regarded within its own specialist field. This is a key differentiator for SThree. In technology, for example, where other companies position themselves as IT specialists, we are recognised as experts in specific fields such as Cyber Security, Big Data Analysis, RPA and AI. This approach is the same across all our markets, so clients know that we can access the very best people for highly skilled positions.
“The Group is becoming increasingly global, but at the same time specialises at a local level. We can source the right people for clients in multiple territories whilst also understanding the nuances and dynamics of each individual market. These include legislative requirements where our local knowledge can help us to advise clients on choosing the right contracts and also help successful candidates navigate the necessary requirements.”
Overall in 2018, SThree saw growth in Information and Communication Technology (ICT) (up 12%), Life Sciences (up 8%), Energy (up 30%) and Engineering (up 16%).>