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View All NewsContinental Europe leads gross profit growth at SThree, US up 8%
SThree plc reported the fastest growth in gross profit occurred in Continental Europe, where it increased 24% on a constant currency basis in the company’s fiscal third quarter ended Aug. 31. The London-based global staffing firm reported US revenue rose 8% in constant currency while UK and Ireland gross profit slipped 10%.
German-speaking as well as Belgium, the Netherlands and Luxembourg posted strong growth, according to the company.
| (£ millions) | Q3 2018 | Q3 2017 | % change constant currency | Q3 2018 (US$ thousands) |
| Contract | £60.4 | £53.1 | 14% | £78.6 |
| Permanent | £22.3 | £20.6 | 8% | £29.0 |
| SThree total | £82.7 | £73.7 | 13% | £107.6 |
Gross profit by geography
| (£ millions) | Q3 2018 | Q3 2017 | % change constant currency | Q3 2018 (US$ thousands) |
| Continental Europe | £47.0 | £37.9 | 24% | $61.2 |
| USA | £18.2 | £17.3 | 8% | $23.7 |
| UK and Ireland | £13.0 | £14.5 | -10% | $16.9 |
| Asia Pacific and Middle East | £4.5 | £4.0 | 16% | $5.9 |
Gross profit by industry
| (£ millions) | Q3 2018 | Q3 2017 | % change constant currency | Q3 2018 (US$ thousands) |
| Information and Communication Technology | £35.9 | £31.6 | 14% | $46.7 |
| Life Sciences | £17.4 | £15.6 | 13% | $22.6 |
| Banking and Finance | £10.5 | £11.3 | -7% | $13.7 |
| Energy | £9.3 | £7.1 | 32% | $12.1 |
| Engineering | £8.0 | £6.9 | 15% | $10.4 |
| Other | £1.6 | £1.3 | 33% | $2.1 |
“Looking ahead, trading conditions in the majority of our markets are encouraging and we enter Q4, our most significant trading quarter, with confidence in our full year prospects,” Chief Executive Gary Elden said.
Share price and market cap
Shares in SThree closed up 6.67% to £368.00 on the London Stock Exchange. The company had a market cap of £450.2 million.