Against a softening macro backdrop, the solidity of SThree’s Q1 net fee outcome; +4% YoY at constant currency (+9% post FX), speaks volumes to the resilience of SThree’s differentiated focus on both Contract (now 81% of net fees) and STEM disciplines. There are a number of moving parts beneath the headlines – Contract growth vs Permanent declines as well as a degree of regional variation – nonetheless the Q1 outcome was consistent with our full year expectations and we leave our estimates unchanged.
23 Mar 2023
SThree PLC - Q1 update
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
SThree PLC - Q1 update
SThree plc (STEM:LON) | 430 12.9 0.7% | Mkt Cap: 579.3m
- Published:
23 Mar 2023 -
Author:
Iain Daly -
Pages:
6
Against a softening macro backdrop, the solidity of SThree’s Q1 net fee outcome; +4% YoY at constant currency (+9% post FX), speaks volumes to the resilience of SThree’s differentiated focus on both Contract (now 81% of net fees) and STEM disciplines. There are a number of moving parts beneath the headlines – Contract growth vs Permanent declines as well as a degree of regional variation – nonetheless the Q1 outcome was consistent with our full year expectations and we leave our estimates unchanged.