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"The UK market has seen a significant impact from the fallout of the credit crunch with the investment banking market being the worst affected sector. But oil and gas has been good, as has IT," Russell Clements, the group’s Chief Executive Officer told Reuters.
The London-based group said its international business performed particularly strongly with gross profit rising 58 percent to 42.4 million, largely down to growth in continental Europe.
During the period SThree opened new offices in Dubai, Sydney, Paris and Amsterdam and will continue to do so as it looks to reduce its reliance on the struggling UK market.
"Although we’re expanding into the Middle East and the Far East we don’t have to focus on these areas as there is significant growth to be had in places like Germany and France where the potential is exceptional," said Clements.
A poll of analysts by Reuters Estimates projects SThree will deliver full-year pretax profit of 61 million pounds, which Clements said the group is comfortable with.
"We’re happy with 60ish (million pounds) in terms of pretax for the year. Last year was just over 50 million so over 60 would represent good growth," said Clements.
At 8:15 a.m., shares in SThree were trading 2.6 percent or 4 pence higher at 157 pence.
Looking ahead, SThree said it was confident the specialist staffing market would show great resilience, adding it was "realistic but positive" about the full-year and beyond.
(Reporting by Rhys Jones; editing by Rory Channing)