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 2023 SThree PLC Trading Statement Call Transcript

Mar 21, 2023 / 08:30AM GMT

Release Date Price: £4.36 (+0.69%)

Transcript

Timo Lehne

SThree plc - CEO & Executive Director

Good morning, everyone, and welcome to SThree's FY '23 Q1 Trading Update. Thank you for joining us today, and I'm here with our CFO, Andy Beach, who will take us through the numbers in a moment.

As usual, we will give a brief overview of our performance before taking any questions.

We have delivered a robust performance to the start of the year with net fee growth of 4% year-on-year. This performance is in line with expectations and is supported by our disciplined approach to our well-established strategy focused on STEM and flexible talent.

Throughout the quarter, the macroeconomic environment has remained uncertain with unusual characteristics, including some of the lowest unemployment rates coupled with high inflation and on top of that, heavy government investments across Europe and U.S., which is generating further splits demand. All of this is resulting in very effects across our markets, which is impacting new placements and being offset by strong contract extensions.

The strength in contract extensions

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