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View All NewsSThree gross profit rises 11%, up 9% in US
SThree plc, which ranks on SIA’s list of largest global staffing firms, announced gross profit rose 11% in constant currency in the first half of the year ended May 31.
The London-based staffing provider, which has operations in the US, reported growth in contract placement gross profit happened in all sectors, with particularly strong growth in continental Europe and the US.
| (£ millions) | H1 2018 | H1 2017 | % change (in constant currency) | H1 2018 (US$ millions) |
| Contract | £106.7 | £94.2 | 14% | $141.6 |
| Permanent | £41.7 | £40.2 | 4% | $55.3 |
| SThree total | £148.4 | £134.4 | 11% | $197.0 |
Gross profit rose 9% in the US, including a 16% rise in contract staffing.
Revenue by geography
| H1 2018 | H1 2017 | % change (in constant currency) | H1 2018 (US$ millions) | |
| UK and Ireland | £26.5 | £27.1 | -2% | $35.2 |
| Continental Europe | £83.9 | £69.1 | 18% | $111.4 |
| US | £29.5 | £29.7 | 9% | $39.2 |
| Asia Pacific and Middle East | £8.5 | £8.5 | 8% | $11.3 |
Gross profit by industry
| H1 2018 | H1 2017 | % change (in constant currency) | H1 2018 (US$ millions) | |
| Information and communications technology | £66.5 | £59.7 | 9% | $88.3 |
| Banking and finance | £20.1 | £20.5 | 1% | $26.7 |
| Energy | £14.0 | £11.4 | 31% | $18.6 |
| Engineering | £14.3 | £11.8 | 17% | $19.0 |
| Life sciences | £30.6 | £28.8 | 11% | $40.6 |
| Other | £2.9 | £2.2 | 28% | $3.8 |
Quote
“We are pleased to have delivered an encouraging first-half performance, with our Continental Europe and USA businesses, in particular, showing strong growth through the second quarter, said Chief Executive Gary Elden. “Our contract business continues to grow robustly across all sectors, with Continental Europe and the USA both delivering double-digit growth in GP. Permanent achieved an improved performance during the first half, driven primarily by Continental Europe but also by our small and fast-growing business in Japan.”
Share price and market cap
Shares in SThree were up 2.12% to £337.00 at market close. The company had a market cap of £423.31 million, according to Yahoo.