UK-listed tech recruiter S Three says profit jumped 20 per cent in 2019
London-listed recruiter S Three reported a 20 per cent increase in pre-tax profit today, driven by strong international growth.
The recruiter, which focuses on science, technology, engineering and mathematics (Stem) roles, said revenue grew nearly seven per cent to £1.3bn.
Reported profit before tax was up 20 per cent in the year to 30 November at £56.8m.
The recruiter said it experienced strong growth in the USA, continental Europe, Asia Pacific and the Middle East.
In contrast, S Three’s UK and Ireland business struggled, with net fees down nine per cent for the year to £48.2m.
“The UK and Ireland was challenging in 2019 as the uncertainty surrounding Brexit and wider political environment continues to impact the region,” the recruiter said.
New chief executive Mark Dorman said: “Whilst early in the year, we can see that broader macro-economic and political uncertainties may well persist, and the trading environment remains similar to Q4.
“We have the right strategy, are in the right sectors and geographies, and our contract focus will allow us to drive another year of progress towards our ambitions.”
Dorman replaced Gary Elden as chief executive on 18 March.
The company’s rivals Page Group, Robert Walters and Hays struggled in the quarter ended December in the face of weaker hiring in markets such as China, UK and France.
S Three shares were down half a per cent this morning on 363p.