SThree PLC (LSE:STEM)

£ 3.58 0.05 (1.42%) Market Cap: 476.04 Mil Enterprise Value: 413.01 Mil PE Ratio: 8.54 PB Ratio: 2.09 GF Score: 84/100

Half Year 2023 SThree PLC Trading Statement Call Transcript

Jun 20, 2023 / 07:30AM GMT

Release Date Price: £3.64 (-0.95%)

Transcript

Timo Lehne

SThree plc - CEO & Executive Director

Good morning, everyone, and welcome to SThree's Half Year Trading Update for FY 2023. And thanks for joining us today.

I'm here, as usual, with our CFO, Andy Beach, who will take us through the numbers in a moment. And as you know, we will give a brief overview of our performance before taking any questions.

We have delivered a resilient performance in the first half of FY 2023 with net fees down 2% on a constant currency basis against a strong post-COVID peak performance in H1 of FY 2022 and the backdrop of the macroeconomic conditions that have particularly impacted global per markets.

It is worth noting that with the benefit of FX tailwinds on a reported basis, our net fees grew by 3%. Underpinning our performance was our contract order book, which continues to be a source of strength for the business.

Contract now represents 81% of the group net fees. Our Contract business grew 3%, driven by robust extensions as clients strive to retain the highly thought of the skills they require. This growth was offset by

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