SThree, the global STEM-specialist talent partner, has posted a very strong set of results for the first quarter (Q1) of 2022, with Group net fees up 29% year-on-year (YoY).
The results, which cover the period from 1 December 2021 to 28 February 2022, are driven by the continued execution of our strategy and show the ongoing strength in new placement activity.
We’ve experienced strong YoY growth in all five of our core markets. Net fees are up in Germany (24%), the USA (27%), the Netherlands (45%), the UK (29%) and Japan (78%).
Similarly, there has been momentum across our key sectors, with net fees up 30% in technology, 23% in life sciences and 31% in engineering.
Contract and permanent YoY net fees are also up 32% and 18%, respectively. Other highlights include our contractor order book being up 42% YoY, which underpins our confident outlook.
And we have a robust balance sheet, with £41 million net cash – as of 28 February 2022.
Timo Lehne, Interim CEO, commented: “The strong momentum of FY 2021 has continued into the first quarter of FY 2022, in line with the Board’s expectations, with robust performances across all our core markets and sectors. In addition, the previously guided investment in our people, talent acquisition and infrastructure to drive long-term sustainable growth is progressing and will gather pace through 2022.
“Our well-established strategy, positioned at the centre of the secular trends of STEM and flexible working, continues to drive this encouraging performance. New placement activity, as well as the strength of the contractor order book, gives us confidence in the outlook as we build on the positive start to the year. Our rigorous focus on strategic execution has not wavered and we remain fully committed to driving returns for all of our stakeholders.
“Whilst we are conscious of the broader uncertainties arising from the war in Ukraine and its potential macro-economic consequences, our direct exposure is minimal. We are encouraged by current trading and remain confident about our overall growth prospects as we continue to position ourselves as the leading STEM talent provider in the best global STEM markets.”
You can read our full results here.
Notes to editors
SThree plc brings skilled people together to build the future. It is the only global pure-play specialist staffing business focused on roles in science, technology, engineering and mathematics (‘STEM’), providing permanent and flexible contract talent to a diverse base of more than 9,000 clients in 15 countries.
The Group’s c.2,700 staff cover the technology, life sciences, engineering, banking and finance sectors.
SThree plc is quoted on the Premium Segment of the Official List of the Financial Conduct Authority under the ticker symbol STEM and also has a US level one ADR facility, symbol SERTY.
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