International recruitment firm, SThree (STHR: LSE) published a trading update for the third quarter ended 31 August 2017 with group gross profit up 5% year-on-year in constant currency.

SThree reported group gross profit was as follows:

Gross profit broken down by region was as follows:

Gross profit broken down by sector was as follows:

SThree reported that much of the growth in Contract gross profit during Q3 came from Continental Europe and USA, however it was offset by a decline in the UK&I. The group stated that it continued to prioritise growth in Contract sales headcount, with an average increase in the quarter of 8% year-on-year.

In the third quarter, Permanent gross profit in UK & Ireland declined by 12% in constant currency and year-on-year, Continental Europe declined by 9% in constant currency over the year, offset by a strong performance in USA, which was up 12% in constant currency and year-on-year.

Contract and Permanent split was 72% (2016: 69%) for Contract and 28% (2016: 31%) for Permanent. SThree added that 80% of group gross profit was generated outside the UK&I (2016: 76%).

Gary Elden, Chief Executive, commented: "We are pleased with our sustained momentum in the period, with gross profit showing a sequential increase over Q2. A robust performance in Continental Europe and further strong growth in the USA were particular highlights and our Contract business is continuing to drive growth across the Group.”

"We are well-positioned for the final quarter and now expect to deliver a full year result ahead of current consensus" Elden said.

In trading today SThree PLC (STHR:LSE) set a new 52-week high during the session when it reached £338.25. Over this period, the share price is up 31.74%. As of last trade the company traded at £335.93, up 1.57% on the day. Based on its current share price the company has a market value of £435.35 million.