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SThree beats expectations with flat quarterly fee performance
StockMarketWire.com
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Specialist recruitment company SThree said its first-quarter fee revenue was broadly flat, ahead of its expectations.
Net fee revenue for the three months through February amounted to £75.5 million, compared to £74.7 million year-on-year, the company said.
Strong constant-currency growth in the US of 19% was offset by a weaker performance in Europe excluding Germany, down 14%, and Asia Pacific, also down 14%.
'I'm pleased to announce that we've seen improved underlying activity across each region of the group during the first quarter,' chief executive Mark Dorman said.
'This follows the significant sequential quarterly improvement in the previous half.'
'Looking ahead, we continue to pursue strategic initiatives we believe will drive further success.'
'We are investing in our platform and are further enhancing our go-to-market strategy to position ourselves for regional and sector-specific opportunities.'
Story provided by StockMarketWire.com
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