REG-SThree SThree: Upgrade to market expectations

SThreeAnnouncement

03/06/2021 07:00

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   SThree (STEM)
   SThree: Upgrade to market expectations

   03-Jun-2021 / 07:00 GMT/BST
   Dissemination of a Regulatory Announcement that contains inside
   information according to REGULATION (EU) No 596/2014 (MAR), transmitted by
   EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   3 June 2021

                                   SThree Plc

                                        

                         Upgrade to market expectations

                                        

   SThree Plc ("SThree" or the "Group"), the only 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 ending 30  November
   2021.

    

   SThree's trading performance during the  second quarter has been  stronger
   than expected across the majority of the Group's portfolio. High levels of
   demand in  Life Sciences  and  Technology have  been seen  throughout  the
   quarter and there  have been  continued strong performances  from the  US,
   German and Dutch businesses.

    

   Whilst there remains a level of uncertainty around the second half of  the
   financial year,  particularly in  regard  to new  COVID variants  and  the
   impact  of  annual  leave  backlogs  for  both  contractors  and  our  own
   employees, the strength of the first half means that the Board now expects
   profit before tax for the 12 months  to 30 November 2021 to be  materially
   above market consensus*.

    

   The Board will announce its scheduled Half Year Trading Update on 14 June
   2021.

    

   Mark Dorman, CEO commented:

    

   "The strong performance we  have seen across  the second quarter  reflects
   the high levels of demand that exists  for our STEM offering. It is  clear
   that organisations across all  sectors understand now  more than ever  the
   importance  of  hiring   people  with  skills   in  science,   technology,
   engineering and mathematics in order to sustain a successful business.

    

   Whilst uncertainty remains, we have proven our ability to execute whatever
   the circumstances, giving us confidence for the remainder of the year  and
   beyond."

    

    

   *Current consensus Analyst PBT expectations are £39.7m. Source: Reuters

    

    

    Enquiries:
                                                            
     
    SThree plc                           020 7268 6000
    Mark Dorman, Chief Executive Officer  
    Alex Smith, Chief Financial Officer   
                                          
   Alma PR                               020 3405 0205
   Susie Hudson

   John Coles                            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) as  it forms  part of  UK Domestic  Law  by
   virtue of the European Union (Withdrawal) Act 2018.

    

   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.2,600 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
   Financial Conduct Authority under the ticker symbol STEM and also has a US
   level one ADR facility, symbol SERTY.

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   ISIN:          GB00B0KM9T71
   Category Code: TST
   TIDM:          STEM
   LEI Code:      2138003NEBX5VRP3EX50
   Sequence No.:  108983
   EQS News ID:   1203846


    
   End of Announcement EQS News Service

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