AMSTERDAM, NETHERLANDS, 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.
This was boosted by a strong performance, which was ahead of expectations, in the Netherlands where GP was up 25% year on year. Continental Europe as a whole now accounts for 57% of SThree’s GP.
The Netherlands is an increasingly important market for SThree. The opening of a new office in 2018 in Eindhoven and growth of 27% in Contract recruitment in the country, illustrate how well the business is performing in this region. SThree’s high profile niche sector brands, Computer Futures, Progressive, Huxley and Real are now the top performing STEM recruiters in the Netherlands.
Benelux & France Managing Director, Kurt Schreurs, 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 JAVA, Salesforce or .Net. This approach is the same across all of 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.”
83% of the group’s GP now comes from outside of the United Kingdom and Ireland and 72% comes from Contract recruitment. These are some of the factors that protect the business from the current political and economic uncertainties in the UK and the volatility seen in the Permanent recruitment market.
Overall in 2018, the SThree Group saw growth in Information and Communication Technology (ICT) (up 12%), Life Sciences (up 8%), Energy (up 30%) and Engineering (up 16%).