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SThree: FY23 Q1 Trading Update
SThree (STEM) 21 March 2023
SThree plc
FY23 Q1 Trading Update
Net fee growth driven by our Contract business
SThree plc ("SThree" or the "Group"), the only global pure-play specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics (‘STEM’), today issues a trading update covering the period 1 December 2022 to 28 February 2023.
Highlights
Timo Lehne, Chief Executive, commented: “The Group has delivered a robust net fee performance in the first quarter of FY23 with fees up 4% YoY, in line with expectations, and supported by the strength of our well-established strategy, focused on STEM and flexible talent. The macro-economic environment remains uncertain, and we continue to see varied effects across our markets impacting new placements, offset by strong Contract extensions. Our Contractor Order Book underpins our near term visibility and continues to be a source of strength for the business, with Contract now representing 81% of Group net fees. We have continued to make progress against our clear strategy which is centred on an analytical and fact-based approach of knowing where to play and playing where we can win. Our targeted investment in talent and digital infrastructure is progressing as planned, positioning the Group to scale with sustainable margins, in line with our 2024 ambitions. Our long-term opportunity is unchanged, underpinned by structural megatrends which drive the acute need for scarce STEM talent. We are closely monitoring lead indicators across our markets as we navigate challenging macro conditions. Supported by a resilient business model and robust financial position, we remain well positioned to source and place the best STEM talent the world needs.”
Reporting structure change
SThree has changed its reporting structure, as shown in the tables below. Going forward, SThree will apply the new groupings of DACH, Netherlands (including Spain, which is managed from the Netherlands), Rest of Europe, USA and Middle East & Asia, as well as continuing to present the net fees of its five key markets: Germany, Netherlands, USA, UK and Japan. A table with the historical reporting structure is provided in the appendix.
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