REG-SThree SThree: Upgrade to market expectations

SThreeAnnouncement

23/11/2020 07:05

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   SThree (STEM)
   SThree: Upgrade to market expectations

   23-Nov-2020 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   23 November 2020

    

                                   SThree plc

                                        

                         Upgrade to market expectations

                                        

    

   SThree plc  ("SThree"  or  the  "Group"),  the  leading  global  pure-play
   specialist staffing  business focused  on  roles in  Science,  Technology,
   Engineering and Mathematics  ('STEM'), is pleased  to announce an  upwards
   revision of  its profit  before tax  expectations for  the financial  year
   2020.

    

   The Board has been encouraged by the increasing levels of activity it  has
   seen during the quarter, despite continuing uncertainties surrounding  the
   pandemic. There has been a notable  improvement in the performance of  the
   US and German businesses, with high levels of demand in Life Sciences  and
   Technology through October and early November. As a result, the Group  now
   expects profit before  tax for the  12 months to  30 November 2020,  after
   including the costs  associated with the  previously announced closure  of
   the Australian business, to be marginally  above the top end of the  range
   of market expectations*.

    

   SThree will announce its FY20 Trading Update on 14 December 2020.

    

   Mark Dorman, CEO, commented:

    

   "I am pleased to report that trading  in the final quarter of the year  is
   coming in ahead  of expectations,  with our purpose  of "bringing  skilled
   people together to  build the  future" and  our strategy  focused on  STEM
   skills and flexible working continuing to serve us well. This  performance
   has been driven by hard work and dedication from our teams throughout  the
   business, alongside learning to operate better in whatever environment  we
   are in. This has enabled us to capitalise on current opportunities and  to
   continue to build a strong platform  for the future. With this  confidence
   in our purpose and strategy, we will continue to execute against our plans
   as we look to deliver the Group's long-term ambitions."

    

    

   *Current Analyst  PBT expectations  range from  £23.2m -  £27.7m.  Source:
   Reuters

    

                                    - Ends -

    

    Enquiries:

                                                            

    
    SThree plc                           020 7268 6000
    Mark Dorman, Chief Executive Officer  
    Alex Smith, Chief Financial Officer   
    Steve Hornbuckle, Company Secretary
                                          
    
                                         020 3405 0205
    Alma PR
                                          
    Rebecca Sanders-Hewett

    Susie Hudson                         SThree@almapr.co.uk

    

    

   The information  contained  within  this announcement  is  deemed  by  the
   Company to constitute inside information under the Market Abuse Regulation
   (Regulation (EU) No.596/2014).

    

    

   Notes to editors

    

   SThree plc brings skilled people together to build the future.  It is  the
   only global pure-play  specialist staffing  business focused  on roles  in
   Science,  Technology,  Engineering  and  Mathematics  ('STEM'),  providing
   permanent and flexible  contract talent to  a diverse base  of over  9,000
   clients in 15 countries.

   The Group's c.2,700 staff cover the Technology, Life Sciences, Engineering
   and Banking & Finance sectors.

    

   SThree plc is quoted on  the Premium Segment of  the Official List of  the
   FCA under the ticker symbol STEM and also has a US level one ADR facility,
   symbol SERTY. 

    

   Important notice

    

   Certain statements in this announcement are forward looking statements. By
   their nature,  forward  looking  statements involve  a  number  of  risks,
   uncertainties or assumptions that could cause actual results or events  to
   differ materially from  those expressed  or implied  by those  statements.
   Forward looking statements regarding past trends or activities should  not
   be taken as representation that such trends or activities will continue in
   the future. Certain data from  the announcement is sourced from  unaudited
   internal management  information  and  is before  any  exceptional  items.
   Accordingly, undue  reliance  should  not be  placed  on  forward  looking
   statements.

    

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   ISIN:          GB00B0KM9T71
   Category Code: MSCM
   TIDM:          STEM
   LEI Code:      2138003NEBX5VRP3EX50
   Sequence No.:  88304
   EQS News ID:   1149783


    
   End of Announcement EQS News Service

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