SThree, the global STEM-specialist talent partner, has posted a strong trading update for Q2 ended 31 May 2022, with double-digit net fee growth across all geographies and sectors.
The strong growth now means that SThree is trading ahead of market expectations for full-year 2022.
Not only are Group net fees for H1 up 25% year-on-year (YoY), Q2 net fees are up 23% YoY. The latter is particularly encouraging as Q2 figures are in comparison to a period in 2021 where our business had mostly recovered from the Covid-19 pandemic.
There has also been significant YoY growth in our largest three markets. Net fees for H1 are up in Germany (22%), the USA (21%) and the Netherlands (41%). Similarly, these three countries represent 73% of Group net fees.
Strong double-digit growth can also be seen across all of our key sectors, with net fees up 30% in technology, 16% in life sciences and 27% in engineering.
Other highlights include contract and permanent net fees for H1 being up 30% and 11%, respectively. And our contractor order book is up 35% YoY, which underpins continued confidence in the near-term outlook.
Timo Lehne, SThree CEO, said:
“Our Group has delivered another excellent quarter of growth, driven by successes across all key regions and STEM disciplines. As a result of this strong performance, we are now trading ahead of market expectations for the 2022 full year.
“Our business had largely recovered from the pandemic in Q2 last year, so this is the first period in which we have been able to provide a true like-for-like comparison; net fee growth of 23% in Q2 is therefore a significant achievement. Our focus on flexible working, both independent and employed contractors, is delivering, and for the second consecutive quarter we are delighted to be able to report that all regions, including the UK, have demonstrated clear positive momentum.
“Good progress has also been made in the execution of our strategy, with the planned investment in our people, talent acquisition and infrastructure moving forward as planned. This investment is designed to underpin our long-term success, with most of the cost in the current year falling in the second half of the year, as expected.
“We are mindful of the macro-economic uncertainties which are currently being felt across our key regions and beyond, with all developments monitored closely, alongside lead indicators of the Group’s performance. However, the demand from our clients for people with STEM skills, together with our strong contractor order book, underpins our confidence in the future.”
Read our full financial resultsNotes 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.
Latest news
Timo Lehne appointed CEO of SThree plc
SThree plc is pleased to announce the appointment of Timo Lehne as permanent Chief Executive Officer with immediate effect.
2021 Annual Report: Discover how SThree is delivering STEM talent
Read how SThree is connecting sought-after STEM specialists with pioneering global companies in our 2021 Annual Report and TCFD statement.
SThree posts record profits with performance up 111% year-on-year
Full-year results for the year ended 30 November 2021 show profit before tax of £60m.
SThree ranks top in Support Services sector in Britain’s Most Admired Companies 2021
Study published by Management Today puts SThree first in eight of the 13 key criteria.
SThree named ‘Top Employer’ in Germany for a ninth consecutive year
Top Employer Institute recognises our approach to creating a positive culture and supporting colleagues.
SThree delivers record full-year net fee performance with strong growth across all major geographies
Increased demand for STEM skills and execution of our strategy sees net fees rise 19% year-on-year, to £355.7m, up 9% versus 2019.
SThree awarded Company of the Year at the 2021 European Diversity Awards
EDA awards are firmly established as the continent’s most prestigious and widely respected diversity event.
Samira Alimohammad named on SIA list of most influential women in staffing
Vice-President and General Counsel of SThree Americas, recognised as one of the most influential women in staffing in North America.
SThree shortlisted for Company of the Year at the European Diversity Awards
SThree is delighted to be included on the shortlist for the Company of the Year award at the 2021 European Diversity Awards.
SThree appoints new Chief Marketing Officer
Carol McNerney’s diversity of experience will help us achieve our stated ambitions as the number one global STEM provider.
SThree reports strong third-quarter results for 2021
Net fees up 29% y-o-y and full-year profits are expected to be significantly ahead of consensus.
SThree posts strong half-year results with profit growth surpassing pre-pandemic levels
Operating profit up 106% compared to half-year (HY) 2020, while contract and Permanent net fees up 8% and 18% respectively year-on-year.
SThree to introduce a hybrid working model when offices re-open
We listened to colleagues across the businesses and have adopted a hybrid policy allowing our people to work at home and in the office.
SThree appoints new Chief Financial Officer
Andrew Beach will be instrumental in delivering further growth and ensuring the financial strength of our staffing services.
Financial Times names SThree on list of Europe’s Climate Leaders
Recognition acknowledges progress made in reducing our carbon emissions to protect the future of the planet.
SThree partners with Generating Genius to fund five university scholarship students in the UK
Talented students to undertake computer science and engineering courses at universities in London, Manchester and Birmingham.
SThree recognised for five years of action against climate change
CDP awards B rating for voluntary disclosure programme after carbon emissions reduced by 12%.
SThree named Recruiter Awards' Sustainable Recruitment Agency of the Year
Sustainability strategy recognised for "Strong, mature considerations of impact and social engagement with demonstrable solutions.