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SThree PLC on Wednesday reported higher net fee income across all its regions for the financial year ended November 30.
Net fees were for the London-based staffing company were up 19% to £430.6 million from £355.7 million a year ago. In Japan, net fees grew the sharpest with 47% to £9.4 million, while the Netherlands were up 34% to £72.9 million, the UK rose 23% to £46.7 million, Germany 14% to £131.9 million and the US, the weakest, by 13% to £111.5 million. In the rest of the world, net fees were up 18% to £58.2 million.
The company said that its largest region Germany ‘delivered strong net fee growth of 14% driven by:
Technology up 18% with higher demand for roles within Infrastructure, Cyber Security, Open-Source Software Development and Leadership and Strategic positions,’ as well as ‘Engineering up 27%, due to demand for Construction roles.’
Japan was boosted by a 32% growth in Technology. Meanwhile, the US grew weaker due to ‘very strong prior year comparatives,’ citing Life Sciences performing strongly in the US a year ago due to high demand from Covid-related activity.
The company’s contractor order book up 19% for financial year 2022. Net cash at November 30 at rose 12% to £65 million, from £58 million a year prior.
SThree shares were 2.4% lower at 388.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News reporter
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