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Trading statements

SThree encouraged by Europe, US performances

16 June 2017 09:24

SThree said it is encouraged by the improvement in momentum across the business in the half year to 31 May, and in particular the strong performances in Continental Europe and the US.

SThree noted that for H1 its group gross profit was up 2% on the year, with 80% of group gross profit generated outside the UK.

It noted, the UK & Ireland performance was, as expected, adversely impacted by the UK's decision to leave the EU and public-sector reforms, with gross profit down down 16% on the year.

However, there was strong growth in the US (up 16% on the year) and a good performance in continental Europe (up 7%). Life Sciences showed robust growth (up 6%).

"Our Contract business continues to deliver good growth across almost all regions, with Continental Europe and the USA again being the highlights," said CEO Gary Elden in a statement.

"Our Permanent business benefited from a further improvement in productivity, driven by the particularly strong performance in USA. Further productivity gains remain the priority for our Permanent business in 2017."

Looking ahead, Elden said the continued momentum of SThree's Contract business and improved Permanent yields gave it a solid base from which to grow in a macro-economic environment that remained uncertain.

At 9:24am: (LON:STHR) SThree PLC share price was +10p at 313.5p

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