7th Jun 2006 07:00
SThree plc07 June 2006 Trading Update SThree, one of the UK's leading specialist staffing businesses, is today issuingan update on trading for the six months ended 31 May 2006. At the time of the preliminary results in February, the Group indicated that itexpected the momentum seen in the closing months of 2005 to continue in thefirst half. SThree is today reporting that trading in the first six months hasremained robust and that the Board is pleased with the Group's overallperformance in the period. SThree made 3,475 permanent placements during the first half, an increase of32.0% (2005: 2,633). The Group reported a further healthy increase in averagefees from permanent recruitment. At 31 May 2006, SThree had 4,335 activecontractors, representing an increase of 14.8% over the prior year (2005:3,777). Contractor gross profit per day rates also showed moderate growth. Russell Clements, Chief Executive, commented: "The Group has continued to makegood progress in the first half, against a background of healthy demand forspecialist staff in the UK and Europe. Both our permanent and contractbusinesses reported strong growth, with the permanent business, in particular,continuing to benefit from both wage inflation and our ongoing success inplacing higher-salaried candidates. The Board remains confident that the Group'swell-established strategy will underpin progress in the current year." SThree will be announcing its interim results for the six months ended 31 May2006 on Monday 24 July 2006. - Ends - Enquiries: SThree plc 020 7292 3838Russell Clements, Chief Executive OfficerMichael Nelson, Chief Financial Officer Citigate Dewe Rogerson 020 7638 9571Kevin Smith / Seb Hoyle 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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