SThree plc, a UK-based staffing provider with operations in the US, reported net fees — or gross profit  — fell 7% to £151.2 million (US$186.6 million) in the first half of its fiscal year ended May 31.

The company noted a stronger first quarter followed by a weaker second because of Covid-19. SThree — which specializes in providing science, technology, engineering and math skills — said it expects uncertainty to remain for some time. As such, it is holding off on releasing guidance.

“The first half results are a combination of a robust first quarter, with a number of key markets delivering strong growth,” Chief Executive Mark Dorman said, “and a second quarter defined by a global health pandemic and the economic impacts of government responses to it.”

SThree noted the first quarter of its fiscal year saw flat growth year over year in gross profit while the second quarter recorded a decline of 12%.

Looking back at the full first half of the year, gross profit in the US fell 1%. SThree noted the US market posted strong showings in life sciences and technology.

Gross profit by geography

Life science and technology were also relatively strong in Germany, Austria and Switzerland, according to SThree. In its rest-of-Europe category, the company noted a challenging performance in the UK.

Asia-Pacific gross profit was impacted by Australian wildfires and the earlier impact of Covid-19.

The company’s brands include Progressive, Computer Futures, Real Staffing Group and Huxley Associates.

SThree is not related to Detroit-based Strategic Staffing Solutions (S3).

Share price and market cap

Shares in SThree closed down 2.04% to £264.50 (US$264.50) in London; the company had a market cap of £358.7 million (US$449.5 million).