26th Jan 2015 08:32
LONDON (Alliance News) - Recruitment company SThree PLC on Monday posted a rise in pretax profit for its financial year and maintained its dividend as revenue increased on the back of a strong performance from its contract business.
SThree said its pretax profit for year to November 30 was GBP29.3 million, up from GBP21 million for its previous financial year, which included a 53rd week of trading. Revenue for the year was up to GBP746.9 million from GBP634.3 million.
The group maintained its dividend, with a 9.3 pence per share final dividend proposed, bringing its total dividend for the year to 14 pence. Both figures are flat year-on-year.
SThree said it was given a boost by a strategic shift towards its contract recruitment business, which produced strong results for the year. Contract gross profit rose 27% year-on-year, the group said, meaning it now accounts for 61% of group gross profit, up from 56% a year ago.
Permanent gross profit rose 6% over the year, with a 16% growth seen in the fourth quarter, SThree said.
"The group delivered an improved performance during the year, with a strong finish in the fourth quarter, as we continued to benefit from our increasing exposure to newer high growth markets, particularly the USA and the Energy and Life Sciences sectors," said SThree Chief Executive Officer Gary Elden.
"At this early point of the new financial year, while improved sentiment is clearly evident in most of our markets, it is still a somewhat mixed picture. Activity levels over the coming weeks will give an indication of the market the group will trade in during 2015 and while we are mindful of the risks we face today, we expect to see a broadly supportive picture globally," Elden added.
SThree shares were up 2.5% to 340.00 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
STHR.L