SThree’s trading commentary through the second half of FY’20 had already highlighted the resilience of the business model. Yesterday’s trading update served to highlight how well positioned SThree is to exit the pandemic in good shape. Two key markets; DACH and the USA (together 60% of group net fees) have delivered positive YoY growth; ahead of expectations. Whilst +19% YoY growth in the US will capture the headlines, +3% growth in DACH is arguably more impressive given the strength of the Q1’20 comparative (+9%). All in all, SThree was able to deliver a flat YoY performance against a comparative largely undisturbed by the pandemic; laying a solid foundation for the year to come (potential FX headwinds nothwithstanding).
16 Mar 2021
Q1’21 Trading Update – 11% PBT upgrade
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Q1’21 Trading Update – 11% PBT upgrade
SThree plc (STEM:LON) | 426 12.8 0.7% | Mkt Cap: 574.9m
- Published:
16 Mar 2021 -
Author:
Iain Daly -
Pages:
9
SThree’s trading commentary through the second half of FY’20 had already highlighted the resilience of the business model. Yesterday’s trading update served to highlight how well positioned SThree is to exit the pandemic in good shape. Two key markets; DACH and the USA (together 60% of group net fees) have delivered positive YoY growth; ahead of expectations. Whilst +19% YoY growth in the US will capture the headlines, +3% growth in DACH is arguably more impressive given the strength of the Q1’20 comparative (+9%). All in all, SThree was able to deliver a flat YoY performance against a comparative largely undisturbed by the pandemic; laying a solid foundation for the year to come (potential FX headwinds nothwithstanding).