SThree, the specialist recruitment firm, has reported slowing growth in profits in its second quarter as the macro environment begins to make placing people in jobs more difficult.
In the six months to May 27th gross profit was £99.9m, up 12% on the prior year but growth slowed noticeably in the second three months of the period, which was only 9% ahead of the previous year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Average placement fees for the half year grew strongly, despite "continuing weakness" in the banking and finance market. Energy, pharmaceuticals & biotechnology all performed well.
During the half year SThree opened offices in Oslo, San Diego, Rio de Janeiro and Brisbane, taking the total to 64 offices in 18 countries.
The Chief Executive, Russell Clements said while the energy sector remained strong in "overall terms the market is becoming more challenging".
The shares were down 5.5% at 11:24.
BS
-
Is it time to ride the recovery in emerging markets?Interview What's the outlook for emerging markets? Gustavo Medeiros, head of research at Ashmore Group, gives his analysis and reviews progress in developing economies
-
Could the Enterprise Investment Scheme cut your tax bill?The Enterprise Investment Scheme is tax-efficient and potentially lucrative. Taking a chance on the scheme could trim your family’s IHT bill, says David Prosser
