Tuesday, 22 July 2008

SThree defies gloom...for now

ITSA SThree's results for the half year were pretty good...considering. Revenues grew 23% to £295.4 with a 14% increase in PBT. The main part of the growth came from outside the UK. The UK represents over 60% of SThree's revenues but grew by a more modesr 8%. CEO Russell Clements said he was nervious about the mid term prospects for the sector but that the banking recruitment sector was the only area currently suffering significantly from the UK's economic downturn.

This kind of result and outlook statement is pretty much as anticipated in my earlier post IT resourcing - So what's up. My theme is taken up by the Questor column in today's Telegraph - A tough job making money as downturn threatens recruitment sector. As I said before, I have few doubts that the ITSAs will make 2008 forecasts - but it's what the ITSA Barometer is telling me for 2009 that scares me.

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