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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  SThree plc    STHR   GB00B0KM9T71

STHREE PLC

(STHR)
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Delayed Quote. Delayed London Stock Exchange - 01/15 11:35:22 am
330 GBX   -0.60%
01/12STHREE : Climate Change Response
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01/05STHREE : Issue of Shares
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Recruiter SThree to cut eight percent support function jobs

07/15/2013 | 04:43am EST

(Reuters) - British recruitment company SThree Plc said it would cut about 8 percent support function jobs and shut seven offices across Europe as part of a restructuring that will reduce costs by about 8 million pounds per year.

"We have or will exit from seven leases across Europe and the UK. The number of employees affected will be 50 employees from our support services as well as 13 from our sales management," Chief Financial officer Alex Smith told Reuters.

SThree said the restructuring, which would include its property portfolio and support functions, was expected to help save 3 million pounds in the second half of the year and reduce its annualised cost base by 8 million pounds per year.

The staffing company last month reported a lower first-half gross profit as it recruited fewer permanent hires, particularly in the UK and Ireland.

SThree on Monday said it would close four offices in the UK and three in France. It operates 67 offices across the world and employs 2,300 people.

"I think it's fairly substantial. They have an annualised cost base savings of 8 million out of a cost base of 175 million," Numis Securities analyst Steve Woolf told Reuters.

Analysts at Panmure Gordon reduced their 2013 and 2014 profit forecast for the company. The brokerage has a "sell" rating on the stock.

Shares in the company fell 2.6 percent to 346 pence at 09:16 a.m. on Monday on the London Stock Exchange.

(Reporting by Tasim Zahid in Bangalore; Editing by Supriya Kurane)


© Reuters 2013
Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.51% 5830 End-of-day quote.-5.20%
BASE,INC. 1.10% 10110 End-of-day quote.3.59%
STHREE PLC -0.60% 330 Delayed Quote.10.74%
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Financials
Sales 2020 1 226 M 1 666 M 1 666 M
Net income 2020 19,5 M 26,4 M 26,4 M
Net cash 2020 42,9 M 58,3 M 58,3 M
P/E ratio 2020 23,3x
Yield 2020 0,78%
Capitalization 433 M 589 M 588 M
EV / Sales 2020 0,32x
EV / Sales 2021 0,30x
Nbr of Employees 3 000
Free-Float 89,2%
Chart STHREE PLC
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SThree plc Technical Analysis Chart | STHR | GB00B0KM9T71 | MarketScreener
Technical analysis trends STHREE PLC
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 7
Average target price 393,57 GBX
Last Close Price 330,00 GBX
Spread / Highest target 36,4%
Spread / Average Target 19,3%
Spread / Lowest Target -6,06%
EPS Revisions
Managers and Directors
NameTitle
Mark Dorman Chief Executive Officer & Director
James Bilefield Non-Executive Chairman
Alex Smith Chief Financial Officer & Executive Director
Anne Kathleen Fahy Non-Executive Director
Denise Collis Independent Non-Executive Director
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