All regions on upward path at SThree

4th Mar 2011 07:16

International recruitment firm SThree has joined the list of job agencies reporting a continuing general uplift in the staffing market.In the three months to 27 February SThree made a total of 1,604 permanent placements (excluding retained business), an increase of 19% on the 1,344 placements in the corresponding period of the previous year.Average placement fees remained strong. At the end of the first quarter SThree had 4,207 active contractors, an increase of 8% on the 3,906 active contractors on the books at the end of February 2010.The number was lower than the 4,359 active contractors on the books at the beginning of the reporting period, but a decline in numbers is normal at this time of the year. "For seasonal reasons, the first quarter is the group's least significant in terms of the year as a whole. Nonetheless, it is encouraging to see that all of the regions in which we operate have remained on an upward trend," said chief executive Russell Clements.Group gross profit, at constant exchange rates (CER), was up 19% to around £42m from £35.8m a year earlier.UK gross profit improved by 12% while non-UK gross profit rose twice as much in percentage terms, and continues to provide the bulk of gross profits, accounting for 63% of the group total.Gross profit from permanent placements rose by 32% using CER, nudging up the share of gross profit accounted for by permanent placements to 50% from 49% in the year to 28 November 2010. Gross profit from contract staff placements grew 8% using CER.The current permanent deal pipeline reflects continuing improvements across all regions. At 27 February 2011, the number of permanent deals agreed, with candidates due to start, was up more than 30% year on year.Net cash at the end of February was roughly £49m."We have started 2011 in good shape to take full advantage of an improving market opportunity and as a more international and diversified business than at any time in our history," claimed Clements.