SThree, a provider of STEM staffing, reported revenue rose 14% in constant currency in its fiscal year ended Nov. 30, 2021. The UK-based firm, which has operations in the US, noted its contractor order book — which represents the value of net fees until contractual end dates, assuming all contractual hours are worked — is up 43% year over year, and contract and permanent net fees increased 17% and 24%, respectively.
The group also noted growth in the technology, life sciences and engineering sectors.
| Adjusted revenue (continuing operations) | |||||
| (£ millions) | FY 2021 | FY2020 | % change | % change constant currency | H1 2021 (US$ millions) |
| Revenue | £1,330.7 | £1,202.6 | 11% | 14% | $1,772.8 |
| Gross profit (net fees) | £355.7 | £308.6 | 15% | 19% | $473.9 |
| Gross margin | 26.7% | 25.7% | |||
| Profit before tax* | £60.2 | £30.6 | 97% | 111% | $80.2 |
| *Excludes discontinued opeations in Australia | |||||
| **Adjusted for exceptional items |
“Our record-breaking full-year performance reported today demonstrates that we have a robust strategy focusing on STEM and flexible working, implemented by a talented management team, and the hard work of our people globally,” said Timo Lehne, who became interim CEO on Dec. 31. “As the market rebounded in 2021 following the impact of Covid-19, we saw demand for STEM skills increase across all of our key markets.”
The US, SThree’s third-largest region, represented 25% of its net fees. In the US, net fees increased 24% year over year, with contract up 16% — driven by its technology sector — and permanent up 53%.
“[The US] remains a key area of focus for the group, and we will continue to invest strategically in the region as we align our resources with the best long-term opportunities,” the company stated.
Share price and market cap
Shares in SThree closed up 12.57% to £470.00 (US$626.13) today in London but were still 22.95% below their 52-week high. The company had a market cap of £557.91 million (US$743.25 million).