Energy Market Drives Strong Performance for SThree PLC in USA
NEW YORK, USA, Jan 28, 2019 – Leading global STEM (Science, Technology, Engineering and Maths) recruiter, SThree plc, has today announced its GP (Gross Profit) for the year ended Nov 30, 2018, was up 12% from £287.7m in 2017 to £321.1m.
The USA is the second largest market for UK-based plc SThree, and it now accounts for 21% of the Group’s GP. GP from the US division of the business was up 8% in 2018.
This growth is due to a rebound in the Energy sector; with a strong position on renewables and a broader service offering leading to a 40% increase in this sector. Life Sciences remains the largest sector for SThree plc in the US and it grew by 6% in 2018. ICT (Information and Communication Technology) also returned good growth with GP up 8%.
SThree plc believes there are opportunities for all of these markets to continue to grow in 2019 and is continuing to invest in the business with structural and leadership changes geared towards creating a platform for more consistent and balanced growth.
SThree plc and its specialist sector brands Computer Futures, Progressive, Huxley and Real, is confident the US will continue to be a strong growth market for the business. Just last week, Computer Futures announced the appointment of Salesforce expert Stephanie Herrera to co-lead the global Salesforce recruitment function within the business. This is further proof that SThree plc is on track to become the world’s leading STEM recruiter and that Computer Futures is strengthening its claim to be the number one Salesforce recruiter.
SThree plc’s Managing Director in the USA, Morgan Kavanagh, said: “Our niche focus on STEM and being in the right STEM markets is helping us to build a growing reputation, using a multi-brand approach where each brand is well regarded within its own specialist field. This is a key differentiator for SThree. In technology, for example, where other companies position themselves as IT specialists, we are recognised as experts in specific fields such as JAVA, Salesforce or .Net. This approach is the same across all of our markets, so clients know that we can access the very best people for highly skilled positions.
“The Group is becoming increasingly global, but at the same time specialises at a local level. We can source the right people for clients in multiple territories whilst also understanding the nuances and dynamics of each individual market. These include legislative requirements where our local knowledge can help us to advise clients on choosing the right contracts and also help successful candidates navigate the necessary requirements.”
83% of the group’s GP now comes from outside of the UK and Ireland and 72% comes from Contract recruitment. These are some of the factors that protects the business from current political and economic uncertainties in the UK and the volatility traditionally seen in the Permanent market.
Overall in 2018, the SThree Group saw growth in Information and Communication Technology (ICT) (up 12%), Life Sciences (up 8%), Energy (up 30%) and Engineering (up 16%).