SThree plc, a UK-based global staffing firm focused on STEM skills, reported net fees, or gross profit, rose 30% year over year in the six months ended May 31.

Looking at just the second quarter, gross profit rose 23%.

“Our group has delivered another excellent quarter of growth, driven by successes across all key regions and STEM disciplines. As a result of this strong performance, we are now trading ahead of market expectations for the 2022 full year,” Chief Executive Timo Lehne said.

SThree’s business had largely recovered from the pandemic in the second quarter of last year, Lehne noted.

Gross profit

The company noted strong growth in its largest three markets: Germany, the US and Netherlands, which collectively represent 73% of group gross profit.

Gross profit in five largest countries served

Looking at just US operations, SThree reported gross profit rose 21% year over year in the first half, led by the US contract business, which rose 28%. US engineering gross profit grew by 27%, with a particular focus on roles within project management. And US technology gross profit rose 25%, driven by increased demand for Adobe, mobile applications, software development and Salesforce. Meanwhile, life sciences, SThree’s largest sector in the US, saw gross profit grow by 16%; it was driven by demand for roles within clinical operations, quality assurance and product development.

Share price and market cap

SThree shares closed at £335.59 (US$409.73) and were up 5.17%; they were 7.36% above their 52-week low. The company had a market cap of £426.7 million (US$520.9 million).