SThree FY profits seen ahead of consensus estimates

Sthree stated that group net fees for the quarter were up 19% year-on-year against "a very strong" comparative period, driven by the continued execution of the company's strategy.

The London-listed group saw continued year-on-year growth in its three largest countries with Germany up 13%, USA up 9%, and the Netherlands up 36%, and also witnessed strong growth across technology, up 25%, and engineering, up 25%, while life sciences grew 2%.

Sthree's contractor order book rose 24% year-on-year, driven by "continued confidence" in its full-year performance, and said it now expects pre-tax profits for the 12 months to 30 November to be "at least" 7% ahead of consensus estimates.

Chief executive Timo Lehne said: "Our group has delivered another excellent quarter of growth, driven by successes across all key regions and STEM disciplines. As a result of this strong performance, together with contractor order visibility, we are again trading ahead of market expectations for the 2022 full year.

"Whilst we remain mindful of the macro-economic uncertainty across global markets, with all developments and lead indicators of the group's performance monitored closely, our strong market position underpins our confidence in the medium to long-term future of the group."

As of 0910 BST, Sthree shares were up 4.23% at 364.80p.

Reporting by Iain Gilbert at Sharecast.com