Profit and divi on the rise at SThree

RECRUITER SThree yesterday reported a 21 per cent rise in first-half profit and said it would pay a special dividend after seeing a recovery across its markets.

The group, which finds jobs for IT professionals in the finance, energy and healthcare sectors in Britain, Europe and Asia, posted a gross profit of 90 million for the six months to 29 May, up from 74.3m in the same period a year ago.

It said it would pay a special dividend of 11p per share on 2 December representing a cash outflow of about 13.5m.

SThree, which has steadily expanded overseas and now generates some two-thirds of its business outside the UK, said permanent placements were up 21 per cent, while contractors were up 11 per cent year-on-year.

Its update follows a strong quarter for rival Michael Page, which recently posted a 32 per cent jump in gross profit.