|
SThree PLC on Tuesday said it is seeing pockets of improvement in some segments and markets including in the US and Japan, as it posted a profit and revenue fall. The London-based science, technology, engineering and mathematics-focused recruiter said pretax profit dived 74% to £10.1 million in the six months to May 31, from £39.0 million a year ago. Revenue fell 15% to £648.8 million from £763.4 million. Net fees were down 16% at £159.1 million from £188.7 million. The company noted a 5% net fees decline in the US amid heightened market volatility after the US administration announced higher trade tariffs. In the US, the average total headcount was down 8.0% to 379 in the first half of 2025, from 412 a year ago. In the Germany, Austria & Switzerland region, or DACH, the average headcount was down 9.9% to 737 from 818. Despite this, SThree maintained its interim dividend at 5.1 pence per share. SThree said new business ‘remains soft’ while noting some improving momentum in certain segments and markets, such as the US and Japan with initiatives to improve market position gaining traction. The company reiterated its guidance for the financial year ending 30 November, continuing to expect performance to be in line with its previously announced £25.0 million pretax profit guidance. For financial 2024, SThree had reported a pretax profit of £67.6 million, which had been down 13% from £77.9 million in financial 2023. SThree shares fell 7.1% to 224.45 pence each on Tuesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
