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View All NewsSThree gross profit up 4% for year on strength in Continental Europe and US
Specialist recruiter SThree plc reported gross profit for its full year ended 30 November rose 4% on a constant currency basis. Strength in the US and Continental Europe boosted gross profit. However, gross profit fell in the UK and Ireland as well as Asia Pacific.
Gross profit
| (£ millions) | Full-year 2017 | Full-year 2016 | % change (in constant currency) | Full-year 2017 (US$ millions) |
| Contract | £203.4 | £173.6 | 10% | $272.5 |
| Permanent | £84.2 | £85.1 | -8% | $112.8 |
| SThree total | £287.6 | £258.7 | 4% | $385.3 |
Contract gross profit rose 21% on a constant currency basis in the US while permanent gross profit rose 12%.
In continental Europe, contract gross profit rose 17% on a constant currency basis, but permanent gross profit fell 7%.
UK and Ireland permanent gross profit fell 22% on a constant currency basis.
Gross profit by geography
| Full-year 2017 | Full-year 2016 | % change (in constant currency) | Full-year 2017 (US$ millions) | |
| UK and Ireleand | £55.6 | £64.0 | -14% | $74.5 |
| Continental Europe | £150.6 | £127.6 | 9% | $201.8 |
| US | £64.4 | £50.7 | 18% | $86.3 |
| Asia Pacific and Middle East | £17.0 | £16.4 | -4% | $22.8 |
“We have delivered an encouraging overall result for the year, and now expect full year profit to be slightly ahead of consensus,” said Chief Executive Gary Elden. “Strong performances in the USA and Continental Europe, particularly from our market-leading business in the Netherlands and our business in Germany, were key to the delivery of this result.”
Gross profit by industry
| Full-year 2017 | Full-year 2016 | % change (in constant currency) | Full-year 2017 (US$ millions) | |
| Information and communications technology | £124.6 | £115.8 | 1% | $166.9 |
| Banking and finance | £43.5 | £41.7 | -2% | $58.3 |
| Energy | £26.5 | £19.6 | 25% | $35.5 |
| Engineering | £25.9 | £23.3 | 5% | $34.7 |
| Life sciences | £62.4 | £54.3 | 7% | $83.6 |
| Other | £4.7 | £4.0 | 15% | $6.3 |