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UK — City gives SThree the thumbs up

31 December 2009
SThree (STHR:LSE) shares have benefitted from recovered hopes for the industry and revived takeover speculation during of the quietest times of the year, the Daily Mail reports.

Shares jumped 10.3 Pence to a year's high of 294 Pence as buyers either believe that 2010 will be a much better year for the staffing agency or that staffing industry leader Adecco will turn up with a 500 million Pounds cash offer for the group.
 
SThree Chief Executive Russel Clements has described 2008-2009 as the most difficult in the group's 23 year history but management now plans to open up to six new offices and increase headcount by up to 30%, mostly outside the UK.
 
There have been previous rumours about Adecco's interest in SThree.

 

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