The SThree Board proposes to pay an interim dividend of 5.0 pence (HY 2021: 3.0 pence), amounting to c.£6.7 million in total. This will be paid on 2 December 2022 to shareholders on record on 4 November 2022. The dividend will be paid from distributable reserves.
Other financial highlights include:
- Excellent performance across the Group. Record net fees, up 25% YoY with double-digit net fees growth across all regions and sectors. This has been driven by continuing high demand from their clients for STEM skills and flexible talent.
- Contract and Permanent net fees for H1 up 30% and 11% respectively YoY.
- In line with their strategic focus on flexible talent, Contract has grown to represent 77% of Group net fees (HY 2021: 74%), with a strong contractor order book up 35% YoY.
- Operating profit was £44.6 million, reflecting a 62% like-for-like increase (HY 2021: £28.1 million) and an exceptional operating profit conversion ratio of 22%. They expect the conversion ratio to reduce significantly in H2 as they incur the costs of their investments in people and digital transformation.
- Very strong growth in profit before tax, up 64% like-for-like to £44.3 million (HY 2021: £27.6 million).
- Robust balance sheet with net cash as at 31 May 2022 of £48.4 million (HY 2021: £47.5 million).
