6th Sep 2013 07:10
LONDON (Alliance News) - Specialist staffing company SThree Plc (STHR.L) on Friday reported that its gross profit for the third quarter declined 2 percent from last year to 49.8 million pounds mainly reflecting lower results at Permanent segment.
In its interim management statement, the company said its permanent gross profit fell 11 percent from last year broadly in line with average permanent consultant headcount down 9 percent. Permanent deal pipeline volume was down 13 percent.
However, contract segment's gross profit grew 7 percent.
The company's contractor runners in the quarter increased 8 percent.
The company experienced continued strong growth in the Americas with a 30 percent increase.
Chief Executive Gary Elden said, "Our trading momentum was positive in the period, with a sequential improvement in our performance over the second quarter, led by Contract and our newer sector disciplines... As we enter our final and most significant trading quarter, we are continuing to take a balanced approach - investing selectively in our teams where there are opportunities for growth, focusing on improving productivity and controlling costs tightly where market conditions remain challenging."
Copyright RTT News/dpa-AFX
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