Share Prices & Company Research

Market News

25 Jan 2021 | 09:02

SThree to resume dividend payments

(Sharecast News) - Despite seeing both revenues and pre-tax profits take a big hit in 2020, recruitment firm SThree will resume dividend payments after having skipped them in 2019. SThree stated 2020 full-year revenues were down 9% to £1.2bn, while pre-tax profits halved to £30.0m as contract net fees slipped 8% as demand for staffing was impacted by the coronavirus pandemic.

While SThree said on Monday that it continues to see uncertainty ahead in many of its markets as a result of Covid-19 and its associated restrictions, the group also expects trends of STEM and flexible working to only become "more powerful" over the next year.

The London-listed firm also proposed a final dividend of 5.0p per share, even as adjusted basic earnings per share tumbled 58% to £13.9m.

Elsewhere, SThree did highlight its "very strong" balance sheet, with net cash of £49.9m at the year-end, and also revealed that chief financial officer Alex Smith would be stepping down from the group at some point in 2021.

Chief executive Mark Dorman said: "In 2020 we faced a once in a century event that provided a series of unprecedented tests. SThree not only dealt with those challenges but is emerging as a stronger business; I am proud of the many achievements we are able to list today.

"Through our unrelenting focus on our strategy, and guided by our purpose, we have taken market share in several of our key regions and delivered robust financial results which underscore our differentiation from non-specialist staffing businesses."

As of 0900 GMT, SThree shares were down 0.30% at 327.0p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.