SThree posts drop in half-year gross profit

7th Jun 2013 10:12

Specialist staffing business, SThree, reported a six per cent year-on-year fall in half-year gross profit as revenues from permanent contracts dropped as less businesses took on less full-time workers. In a trading update for the six months ended May 26th 2013, the company said gross profit from permanent staff contracts declined 15% with average permanent consultant headcount down 16%.Temporary contract gross profit, on the other hand, was up 3.0%.The company said it intends maintain an interim dividend per share of 4.7p."Against a backdrop of weaker macroeconomic conditions, we have had a satisfactory first half," said Chief Executive, Gary Elden. "Strategically, our focus remained on contract, international and sector diversification during the period. Our priority in the current trading environment has been the ongoing refocusing of elements of the business to ensure they are positioned to target growth markets more effectively."SThree invested in sale headcount in growth markets including energy, which rose 24% and pharmaceuticals and biotechnology, up 15%. Shares dipped 4.58% to 338.75p at 10:55 Friday.RD