Recruitment firms take a battering following SThree slowdown
The biggest faller on the FTSE 250 this afternoon is the IT and finance recruitment specialist SThree, down 8.36% following an announcement that earnings growth had slowed in the group's final quarter.
The biggest faller on the FTSE 250 this afternoon is the IT and finance recruitment specialist SThree, down 8.36% following an announcement that earnings growth had slowed in the group's final quarter.
The full-year gross profits were up 17% on the year, but in the final quarter this had slowed to 10%. In the UK the picture was even worse, with the fourth quarter 7% behind 2010.
Another recruitment firm, Michael Page International (MPI), appears to have caught SThree's cold, it is currently the second biggest faller on the FTSE 250, down 3.0%.
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MPI will issue its next update on its own final quarter on the 11th of January. So far this year it has dropped 28%.
BS
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