SThree expects annual earnings beat after robust first-half on hiring rebound By Reuters

(Reuters) – SThree Plc forecast annual earnings to be ahead of analysts’ estimates on Monday, after the British recruiter’s first-half operating profit more than doubled as hiring rebounded in some sectors.

Recruiters around the globe were hammered last year as the pandemic forced most firms to halt new hiring. However, a ramp-up in vaccinations and re-opening of some economies have started encouraging many companies to resume recruiting.

“The momentum built across the first half has continued into current trading, with strong KPIs (key performance indicators) on new placement activity and contractor retention rates,” Chief Executive Officer Mark Dorman said.

SThree, which hires talent for finance, energy, banking, pharmaceutical, engineering and tech sectors, said adjusted operating profit for six months ending May 31 rose to 28.1 million pounds ($38.70 million), compared with 13.9 million pounds last year and 23.3 million pounds reported in 2019.

SThree also approved an interim dividend of 3 pence per share.

($1 = 0.7261 pounds)

(This story was refiled to correct the day in paragraph 1)