The SThree recruiter is supported by strong growth abroad; UK slips

(Reuters) – Recruiter SThree Plc recorded a 9% hike in its half-year net fees on Friday, supported by double-digit growth in its international markets as it fights the slowdown in hiring at him.

The company, which hires for financial, energy, banking and pharmaceutical companies, said net commissions for the UK and Ireland had declined 9% over the six months ended May 31.

Like other recruiters, Sthree is increasingly dependent on international markets for growth, while the home-based job market remains calm due to the low unemployment and uncertainty surrounding Brexit. .

Last week, Confederation of Recruitment and Employment (REC) stated that British employers increased their temporary staffing costs at the lowest rate in six years and hired fewer permanent staff.

SThree, which operates in 16 countries, said contract hiring was up 12 percent, while permanent hiring dropped 1 percent. The company has maintained its expectations for the entire year without change.

SThree generated over 86% of its global net fees from its international market, up from 82% last year.

(Report by Sangameswaran S in Bengaluru, edited by Saumyadeb Chakrabarty)