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SThree PLC - London-based staffing company - Says net fees for the financial year ended November 30 fell 2.7% to £418.8 million from £430.6 million a year before. Permanent net fees fall 22% year-on-year due to ‘difficult’ market conditions, as well as its ‘strategic transition towards Contract’ in specific markets. Contract net fees grow 1%. Says contractor order book fell 3% to £184 million, but says it represents sector-leading visibility with the equivalent of around four months’ net fees, providing a ‘robust platform for the year ahead.’
Chief Executive Officer Timo Lehne says: ‘Following a record prior year, the group has delivered a consistently robust performance within a challenging macroeconomic environment. This gives us confidence that our strategic focus, aligned to structural growth drivers of critical STEM skills and flexible talent, gives us a resilient and financially robust platform from which to deliver our ambitions.’
Current stock price: 422.00 pence, up 1.2%
12-month change: up 7.0%
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