SThree PLC (LSE:STEM)

£ 3.55 -0.03 (-0.84%) Market Cap: 472.05 Mil Enterprise Value: 409.02 Mil PE Ratio: 8.54 PB Ratio: 2.09 GF Score: 84/100

Q1 2019 SThree PLC Corporate Sales Call Transcript

Mar 15, 2019 / 08:30AM GMT

Release Date Price: £2.94 (+0.68%)

Transcript

Operator

Hello, and welcome to the SThree First Quarter Trading Statement. (Operator Instructions) And just to remind you, this is being recorded.

So today, I'm pleased to present Gary Elden, CEO; and Alex Smith, CFO. Please begin.

Gary Elden

SThree plc - CEO & Executive Director

Good morning, everyone, and welcome to the call. As usual, Alex Smith is here with me. I'll start with a quick summary and then take your questions.

We're pleased to have had such an encouraging start to the new financial year, with Group GP ahead by 9%. This performance was driven by the combination of our STEM focus and international market exposure, with 80% of GP in the quarter coming outside the U.K. and Ireland.

Picking out some highlights. In line with our focus on Contract, it remains the driving force of our overall performance, with GP ahead by 12% and now represents 73% of the group's GP. GP in Permanent was ahead by 1% and productivity up by 5%.

Our largest region, Continental Europe, continued to grow robustly, as did the USA, posting

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