SThree posts jump in Q1 net fees

Recruiter SThree reported a jump in first-quarter net fees on Monday as it hailed growth across all geographies and sectors.

In an update for the period from 1 December 2021 to 28 February 2022, the company said group net fees rose 29% to £93.8m, with an 18% increase in the permanent segment to £21.5m and a 32% rise in temporary to £72.3m.

SThree said there has been "very strong" growth in all five of its core markets, with net fees up 24% in Germany, 27% in the USA, 45% in the Netherlands, 29% in the UK and 78% in Japan.

The company said its contractor order book was up 42% in the year, underpinnings its "confident outlook".

Interim chief executive Timo Lehne said: "The strong momentum of FY 2021 has continued into the first quarter of FY 2022, in line with the board's expectations, with robust performances across all our core markets and sectors.

"Whilst we are conscious of the broader uncertainties arising from the war in Ukraine and its potential macro-economic consequences, our direct exposure is minimal. We are encouraged by current trading and remain confident about our overall growth prospects as we continue to position ourselves as the leading STEM talent provider in the best global STEM markets."

SThree provides specialist contract and permanent recruitment services in the science, technology, engineering and mathematics (STEM) sector.