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3 June 2021
Upgrade to market expectations
SThree Plc ("SThree" or the "Group"), the only global pure-play specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics ('STEM'), is pleased to announce an upwards revision of its profit before tax expectations for the financial year ending 30 November 2021.
SThree's trading performance during the second quarter has been stronger than expected across the majority of the Group's portfolio. High levels of demand in Life Sciences and Technology have been seen throughout the quarter and there have been continued strong performances from the US, German and Dutch businesses.
Whilst there remains a level of uncertainty around the second half of the financial year, particularly in regard to new COVID variants and the impact of annual leave backlogs for both contractors and our own employees, the strength of the first half means that the Board now expects profit before tax for the 12 months to 30 November 2021 to be materially above market consensus*.
The Board will announce its scheduled Half Year Trading Update on 14 June 2021.
Mark Dorman, CEO commented:
"The strong performance we have seen across the second quarter reflects the high levels of demand that exists for our STEM offering. It is clear that organisations across all sectors understand now more than ever the importance of hiring people with skills in science, technology, engineering and mathematics in order to sustain a successful business.
Whilst uncertainty remains, we have proven our ability to execute whatever the circumstances, giving us confidence for the remainder of the year and beyond."
*Current consensus Analyst PBT expectations are £39.7m. Source: Reuters
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (Regulation (EU) No.596/2014) as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.
Notes to editors
SThree plc brings skilled people together to build the future. It is the only global pure-play specialist staffing business focused on roles in Science, Technology, Engineering and Mathematics ('STEM'), providing permanent and flexible contract talent to a diverse base of over 9,000 clients in 15 countries.
The Group's c.2,600 staff cover the Technology, Life Sciences, Engineering and Banking & Finance sectors.
SThree plc is quoted on the Premium Segment of the Official List of the Financial Conduct Authority under the ticker symbol STEM and also has a US level one ADR facility, symbol SERTY.
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