SThree (STEM)

Sector:

Support

Index:

FTSE 250

430.00p
   
  • Change Today:
      1.50p
  • 52 Week High: 432.00
  • 52 Week Low: 332.00
  • Currency: UK Pounds
  • Shares Issued: 134.87m
  • Volume: 198,070
  • Market Cap: £579.95m
  • RiskGrade: 1,320

SThree set to deliver record profits for year just ended

By Josh White

Date: Monday 13 Dec 2021

LONDON (ShareCast) - (Sharecast News) - Recruitment firm SThree said in a trading update on Monday that group net fees for the year just ended were up 19% year-on-year, driven by its strategy and increased demand for skills in the science, technology, engineering and mathematics fields on which it focuses.
The London-listed firm also reported the third consecutive quarter of above-20% growth, with net fees in the fourth quarter up 25% year-on-year.

It said its three largest countries represented 74% of group net fees, with Germany up 23%, the United States up 24%, and the Netherlands up 19%.

Contract and permanent net fees were ahead 17% and 24% year-on-year for the 12 months ended 30 November, respectively, while contract net fees represented 75% of group net fees, down slightly from the 76% it recorded in the 2020 financial year.

SThree's contractor order book was 43% higher year-on-year at the end of the fourth quarter, compared to 41% at the end of the third quarter.

The company said it had a "robust" balance sheet, with net cash totalling £58m as at 30 November.

Compared to the 2019 financial year, pre-pandemic, SThree said full-year net fees were up 9%, group net fees in the fourth quarter were ahead 16%, Germany net fees rose 18%, the United States by 26% and the Netherlands by 7%, and the contractor order book was 30% firmer.

The company announced that Mark Dorman would be stepping down from the board and as chief executive officer of the group on 31 December.

It said Timo Lehne, currently the senior managing director of its largest region, Germany, Austria and Switzerland, would be appointed interim chief executive and for that period would join the board as executive director from 1 January.

Dorman would continue to assist the Group in facilitating a smooth handover and transition until 1 April.

"SThree has continued to deliver strong results in our final quarter of the year, and delivered full year net fee growth of 19% year-on-year and 9% versus 2019," Mark Dorman said.

"Our strategy, positioned at the centre of the secular trends of STEM and flexible working, has continued to drive this excellent performance.

"The group expects to deliver record profits for the full year, in line with consensus expectations, which were materially upgraded in September."

Dorman said SThree's people had been "incredibly resilient, productive and dedicated" in delivering the results.

"I have agreed with the board that this is the right time for a change for both SThree and me, due to personal reasons.

"It has been a privilege to lead SThree through such extraordinary times, working with talented, dedicated and values-driven people for nearly three years.

"Our strategy has driven excellent financial performance and benefits to all our stakeholders."

At 1002 GMT, shares in SThree were down 9.52% at 494p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SThree Market Data

Currency UK Pounds
Share Price 430.00p
Change Today 1.50p
% Change 0.35 %
52 Week High 432.00
52 Week Low 332.00
Volume 198,070
Shares Issued 134.87m
Market Cap £579.95m
RiskGrade 1,320

SThree Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.15% below the market average48.15% below the market average48.15% below the market average48.15% below the market average48.15% below the market average
15.56% below the sector average15.56% below the sector average15.56% below the sector average15.56% below the sector average15.56% below the sector average
Price Trend
62.29% above the market average62.29% above the market average62.29% above the market average62.29% above the market average62.29% above the market average
28.71% above the sector average28.71% above the sector average28.71% above the sector average28.71% above the sector average28.71% above the sector average
Income
49.05% above the market average49.05% above the market average49.05% above the market average49.05% above the market average49.05% above the market average
56.92% above the sector average56.92% above the sector average56.92% above the sector average56.92% above the sector average56.92% above the sector average
Growth
5.32% below the market average5.32% below the market average5.32% below the market average5.32% below the market average5.32% below the market average
26% below the sector average26% below the sector average26% below the sector average26% below the sector average26% below the sector average

What The Brokers Say

Strong Buy 4
Buy 2
Neutral 1
Sell 0
Strong Sell 0
Total 7
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SThree Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-24 09-Nov-23
Paid 07-Jun-24 08-Dec-23
Amount 11.60p 5.00p

Trades for 28-Mar-2024

Time Volume / Share Price
16:37 46,899 @ 429.99p
16:35 82,845 @ 430.00p
16:35 500 @ 430.00p
16:35 252 @ 430.00p
16:35 1,477 @ 430.00p

SThree Key Personnel

CFO Andrew Beach
CEO Timo Lehne

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