The Sthree Board has proposed to pay an interim dividend maintained at 5.1 pence (H1 FY25: 5.1 pence) per share, amounting to £6.4 million in total.
Other financial highlights include:
Group net fees of £147.7 million, down 7% year-on-year (YoY)(3), reflecting a continued improvement in the YoY rate of decline, driven by ongoing growth in the USA and Japan.
o Geographical mix: our three largest countries represent 72% of Group net fees. The USA grew by 12%, while Germany and the Netherlands declined 14% and 24%, respectively.
o Skills mix: Engineering net fees were broadly stable, declining 1% YoY, Life Sciences declined 8% YoY, and Technology declined 14%.
Contract net fees, representing 85% of Group net fees (H1 FY25: 84%), declined 8% YoY. Strong growth in the USA partially offset softer performances in the Netherlands and Germany, contributing to a sequential improvement in Group contract performance in Q2 (Q1: -10% YoY; Q2: -6% YoY).
Contract extensions remained resilient, while new business activity was stable year-on-year and improved quarter-on-quarter, with momentum building across a growing number of countries during the half despite reduced headcount. This was supported by improved productivity and the early benefits of the Group's technology platform.
Permanent net fees, representing 15% of Group net fees (H1 FY25: 16%) declined 5% YoY, with a reducing rate of decline supported by a strong performance in Japan.
Contractor order book of £157.2 million, up 3% YoY, continues to represent sector-leading visibility, equivalent to approximately five months' net fees.
Profit before tax (PBT) of £2.7 million, down 75% YoY, reflecting lower net fees and £6.4 million of non-recurring costs primarily attributable to planned expenditure associated with the cost optimisation programme, partially offset by disciplined cost management and operational focus.
Share buyback programme of up to £20.0 million, launched in February 2026, resulted in £6.0 million worth of shares being purchased and subsequently cancelled during H1 FY26 (£8.8 million purchased as at 20 July 2026).
Robust balance sheet, with net cash of £43.0 million at 31 May 2026 (31 May 2025: £48 million).
