SThree profit jumps 28% following strong offshore performance
Source - SMW
Recruitment company SThree reported an 28% rise in first-half profit, as growth in its overseas businesses more than offset weakness in the UK.
Pre-tax profit for the six months through June rose to £22.7m, up from £17.8m on-year.
Revenue climbed 12% to £653.3m and adjusted profit rose 18% to £24.0m.
SThree declared an interim dividend of 5.1p, up 8.5% on-year.
'This set of results, the first since I joined the group, demonstrates that our strategy is putting SThree ahead of the field,' chief executive Mark Dorman said.
'The engine room of our growth has continued to be the key strategic focus areas of our business - progress within the key STEM markets, particularly the US and Continental Europe, as well as an increased contract weighting.'
'Notwithstanding the macro-economic backdrop in certain regions, the group remains well positioned as we enter the second half, and the board's expectations for the full year remain unchanged.'