1 March 2006
SThree (Berlin: S8T.BE - news) plc
("SThree" or the "Group")
Preliminary Results - Amendment
The following amendment replaces information released on 8 February 2006 under RNS number 0805Y.
Following completion of the audit of the full year results, SThree announces that for the year ending 30 November (Stuttgart: A0Z24E - news) 2005 non-ICT gross profit amounted to £16.3m, representing 15.6% of total gross profit, a growth of 95.2% compared to the year before, and not £13.1m, representing 12.5% of total gross profit, a growth of 56.5%, as reported at the time of the preliminary announcement of the Company's full year results. ICT gross profit changed correspondingly and amounted to £88.2m, representing 84.4% of total gross profit, a growth of 30.6%, and not £91.4m, representing 87.5% of total gross profit, a growth of 35.3%, as originally reported. SThree expects to post its Annual Report and Accounts, in which the correct numbers will be reflected, to shareholders towards the end of March.
- Ends -
Enquiries:
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SThree plc |
020 7292 3838 |
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Russell Clements, Chief Executive Officer |
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Sunil Wickremeratne, Chief Operating Officer |
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Michael Nelson, Chief Financial Officer |
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Weber Shandwick Square Mile |
020 7067 0700 |
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Stephanie Badjonat |
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Notes to editors
SThree, founded in 1986, is one of the leading ICT staffing businesses in the UK based on turnover. SThree provides both permanent and contract specialist staffing services in the UK and Europe (Chicago Options: ^REURUSD - news) , primarily in the ICT sector and, to an increasing extent in the UK, the banking and finance, accountancy, human resources and engineering sectors. SThree currently operates under 12 brands, the 3 largest by turnover being Computer Futures, Progressive (NYSE: PGR - news) and Huxley, and has 30 offices in the UK and 8 offices in Europe, in Belgium, The Netherlands, France, Germany and Ireland (Xetra: A0Q8L3 - news) .
SThree has a selective approach to clients and focuses on high margin opportunities, predominantly within the small to medium-sized enterprises ("SME") market, which SThree defines as including autonomous divisions of large corporates. SThree does not pursue a high volume/low margin model. SThree has a diverse, international client list of over 4,000 clients, comprising primarily SMEs.
Following the establishment of its first brand, Computer Futures, in 1986, SThree adopted a multi-brand strategy, establishing new operations to address growth opportunities. These new brands have typically been created out of one of SThree's existing businesses and are an important means of retaining high performing key employees who are often given the opportunity to acquire a minority equity stake in the new business.
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