Tuesday, 16 September 2008

European sun offsets UK gloom for SThree

Leading UK (and increasingly international) IT staff agency (ITSA) SThree's Q3 trading update (see RNS article here) showed how smart they were to diversify the business beyond IT and beyond the shores of our fair Isle. Rampant growth in Cont. Europe starkly contrasted with a decline in SThree's UK IT business, which saw contractor numbers down 16% and permanent placements down 10%. Not unexpected but another clear sign, should we need it, that we're in for a bleak winter. The one IT skill where demand still exceeds supply is SAP - this is something we hear from all the SIs too - which makes it even more of a mystery why Morse could never get the old Diagonal business motoring. We'll talk more about SThree in future commentary as we see them as, perhaps, one of the ITSAs better positioned to face the inclement climate.

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