Photo taken on December 4, 2021 The SThree logo is featured on a smartphone. REUTERS/Dado Ruvic/Illustration
Sept 20 (Reuters) – British recruiter SThree Plc ( STEMS.L ) on Tuesday forecast better-than-expected annual profit, helped by hiring demand in science, technology and related sectors.
The company, which hires workers for the finance, energy, banking, pharmaceutical, engineering and technology sectors, said its profit for the November 30 end was expected to be 7 percent below market expectations.
As candidates enter the workforce, the recruitment industry has seen rising wage inflation and skills shortages rise, but the fading recession will restore cracks in the labor market, with job seekers taking a back seat as demand slows.
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“While we are closely monitoring the group’s performance indicators while keeping in mind the macroeconomic uncertainty in global markets, our strong market position strengthens our confidence in the group’s medium-to-long-term prospects,” CEO Timo Lehne said in a statement.
The London-headquartered group sees a 19% increase in group net fees for the third quarter.
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Reporting by Amna Karimi in Bengaluru; Editing by Rashmi Aich
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