SThree plc, the global STEM-specialist talent partner, is pleased to announce that group net fees for the third quarter are up 19% year-on-year (YoY) against a very strong comparative period, driven by the continued execution of our strategy.
The Group has seen continued YoY growth in our three largest countries with Germany up 13%, USA up 9% and the Netherlands up 36%, which together represent 73% of Group net fees. Core sectors have also seen strong growth with technology up 25%, engineering up 25% and life sciences up 2% when compared with the same quarter last year.
In line with our strategic focus on flexible talent, contract net fees are up 21%, permanent net fees are up 10% and our contractor order book is up 24% YoY, underpinning continued confidence in our full-year performance.
The balance sheet is strong, with net cash of £57m at 31 August 2022, compared with £51m at 31 August 2021.
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, together with contractor order visibility, we are again trading ahead of market expectations for the 2022 full year.
“The YoY growth for Q3 builds on the strong performance delivered in the first half of the year. This further period of growth is being driven by our strategic focus on STEM and flexible working, through both independent and employed contractors.
“Good progress has also been made in the execution of our wider strategy, with the investment in our people, talent acquisition and digital infrastructure moving forward as planned. This investment is designed to underpin our long-term success, with costs starting to be incurred in Q3 as previously indicated.
“While we remain mindful of the macro-economic uncertainty across global markets, with all developments and lead indicators of the Group’s performance monitored closely, our strong market position underpins our confidence in the medium to long-term future of the Group.”View our financial results
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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