LONDON (dpa-AFX) - SThree Plc (STHR.L), a staffing company, on Tuesday reported a rise in profit before tax for the first-half, helped by lower average headcount, tight cost control, and the benefit of higher interest income. However, revenue declined for the period.
For the six-month period to May 31, the firm posted a pre-tax income of 39 million pounds, compared with 38.491 million pounds in the previous year period.
After tax, profit stood at 28.108 million pounds or 20.8 pence per share, higher than last year's 27.675 million pounds or 20.4 pence per share.
Operating profit, however, slipped to 37.701 million pounds from 38.121 million pounds a year ago.
Finance income surged to 1.813 million pounds from 0.691 million pounds in 2023.
Net interest income, excluding interest on lease payments, was 1.7 million pounds, higher than last year's 0.6 million pounds.
Cost of sales stood at 574.661 million pounds, lower than 616.620 million pounds last year.
Revenue was 763.404 million pounds, down from 825.211 million pounds a year ago.
The Board will pay an interim dividend of 5.1 pence per share on December 6 to shareholders on the register as of November 8.
Looking ahead, for the full year, the company expects its profit before tax in line with current market expectation of 69.2 million pounds.
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