Specialist Staffing Group's parent company, the only global pure-play specialist staffing business focused on roles in STEM, has reported a strong set of results for the financial year ended 30 November 2021. The Group has generated record full-year (FY) net fees of £355.7m which are up 19% year-on-year (YoY) and up 9% versus 2019.
An increased demand for STEM skills and the execution of our strategy has driven this performance and resulted in a third consecutive quarter of over 20% growth, with Q4 net fees up 25% YoY. Similarly, our Q4 net fees are up 16% compared to 2019.
Other highlights include significant YoY growth in our three largest countries, with net fees up 23% in Germany, 24% in the USA and 19% in the Netherlands. These countries represent 74% of Group net fees.
Contract and Permanent net fees are also up 17% and 24% YoY, respectively, and our contractor order book is up 43%.
We’ve also compared our performance against the pre-pandemic levels of 2019 due to the impact of Covid-19 in 2020. Our FY net fees are up 9% versus 2019 – the year of our previous record FY net fees performance.
Our growth compared to 2019 is further highlighted by our contractor order book being up 30%. And net fees in Germany (18%), the USA (26%) and the Netherlands (7%) are also up compared to the same period two years ago.
The Group remains in a robust financial position with £58m net cash as of 30 November 2021 – this has risen from £50m at 30 November 2020.
Mark Dorman, Chief Executive Officer, commented:
“The Group has continued to deliver strong results in our final quarter of the year, delivering full year net fee growth of 19% year-on-year and 9% versus 2019. Our strategy, positioned at the centre of the secular trends of STEM and flexible working, has continued to drive this excellent performance.
“The Group expects to deliver record profits for the full year, in line with consensus expectations, which were materially upgraded in September 2021. Our people have been incredibly resilient, productive and dedicated in delivering these results, and I thank them for all their efforts. I am proud that the Group delivers meaningful work opportunities to our candidates and brings skilled people together to build the future”.Visit our Investor Centre
Notes to editors
Specialist Staffing Group brings skilled people together to build the future. It is the only global pure-play specialist staffing business focused on roles in science, technology, engineering and mathematics (‘STEM’), providing permanent and flexible contract talent to a diverse base of more than 9,000 clients in 15 countries.
The Group’s c.2,700 staff cover the technology, life sciences, engineering, banking and finance sectors.
Specialist Staffing Group's parent company is quoted on the Premium Segment of the Official List of the Financial Conduct Authority under the ticker symbol STEM and also has a US level one ADR facility, symbol SERTY.
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