SThree (STHR) expects adjusted pre-tax profits for 2018 to be slightly ahead of the top end of the market consensus range, after posting 12 per cent growth during the fourth quarter and across the year. The recruiter’s chief executive, Gary Elden, is also expected to step down from his role by April next year.
Contract business gross profit – which accounted for 72 per cent of the group total – was up 14 per cent, as the trend towards short-term and temporary employment in the science, technology, engineering and mathematics sectors continued. UK and Ireland gross profit was down 5 per cent following the restructure of the permanent business earlier this year, but was more than offset by a stronger performance elsewhere – profits were up a fifth in Continental Europe.
