6th Dec 2006 07:01
SThree plc06 December 2006 Trading Update SThree, one of the UK's leading specialist staffing businesses, is today issuingan update on trading for the year ended 30 November 2006. The Group's performance in the year has been strong, against a background ofcontinuing positive trading conditions in the specialist staffing markets, andthe Board is pleased with the Group's overall performance in the period. SThree made 7,685 permanent placements during the year, an increase of 27.6%(2005: 6,023). Average fees from permanent recruitment also increased strongly,as the Group continued to benefit from both underlying wage inflation and anincrease in the proportion of higher salaried candidates within the sales mix. At 30 November 2006, SThree had 4,719 active contractors, representing anincrease of 8.1% over the prior year (2005: 4,365). Contractor gross profit perday rates also showed a further healthy increase as the Group placed a greaterpercentage of higher skilled contractors able to command superior rates,consistent with its strategy of moving up the candidate value chain. Russell Clements, Chief Executive, commented: "Our performance in the secondhalf has continued the strong year on year growth trend we reported at theinterim stage. Our well-established strategy of focusing on quality and marginover high volume/low value placements has delivered a pleasing furtherimprovement in fee growth in both our permanent and contract businesses. Oursuccess in investing to develop new revenue streams both in new sectors and newgeographies is reflected in visible progress across the board, with all aspectsof the business contributing to the growth momentum. Overall, we are pleasedwith the performance for the year and believe we remain well positioned to makefurther progress in the year ahead." SThree will be announcing its preliminary results for the year ended 30 November2006 on 7 February 2007. - Ends - Enquiries:SThree plc 020 7292 3838Russell Clements, Chief Executive OfficerMichael Nelson, Chief Financial Officer Citigate Dewe Rogerson 020 7638 9571Kevin Smith / Nicola Smith Notes to editors SThree, founded in 1986, is one of the leading specialist staffing businesses inthe UK. The Group provides both permanent and contract specialist staffingservices in the UK and Europe, primarily in the information and communicationstechnology ("ICT") sector and, to an increasing extent, the banking and finance,accountancy, human resources and engineering sectors. Following theestablishment of its first business, Computer Futures, in 1986, the Groupadopted a multi-brand strategy, establishing new operations to address growthopportunities. SThree currently operates 12 brands, the 3 largest being ComputerFutures, Progressive and Huxley Associates, and has 30 offices in the UK and 9offices in mainland Europe, in Belgium, The Netherlands, France, Germany andIreland. SThree has a selective approach to clients and focuses on high marginopportunities, predominantly within the small to medium-sized enterprises("SME") market, which SThree defines as including autonomous divisions of largecorporates. The Group does not pursue a high volume/low margin model. SThree hasa diverse, international client list of over 4,000 clients. SThree plc is quoted on the Official List of the UK Listing Authority under theticker symbol STHR. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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