Group posts strong half-year results with profit growth surpassing pre-pandemic levels

Specialist Staffing Group's parent company, the world’s only pure-play STEM staffing specialist, has reported positive financial results for the first half of 2021, with operating profit up 106% compared to half-year (HY) 2020.

A high demand for STEM skills, as well as better market conditions and improved productivity, has also seen our profits surpassing the pre-pandemic levels of 2019.

The results show that HY net fees are up 10% versus 2020, and there has been strong growth in both the DACH region and the USA. Moreover, Life Sciences and Technology net fees are up significantly across the Group.

Other highlights include Contract and Permanent net fees up 8% and 18% respectively year on year. And our top five performing countries represent 86% of Group net fees, with Germany accounting for 33% and the USA 25%.

With the second quarter (Q2) of 2020 significantly impacted by COVID-19, we’ve also provided comparisons against 2019 for net fees and profit. Not only does this add context, but it also further highlights our growth in 2021 versus 2019, across several of our regions as well as at a Group level.

Net fees in Q2 (8%) and HY (3%) are both up when compared to the same periods in 2019, and our adjusted operating profit is also up 18%.

Mark Dorman, CEO, commented:

“We’re delighted to report strong overall performance in the first half, driven by the hard work of our teams across the globe.

“Our profit has grown substantially from HY 2020, and has surpassed the pre-pandemic levels of 2019, reflecting the strength of the business and our growth trajectory. Profit growth was driven by improving market conditions, including especially strong demand for STEM skills, and productivity growth.

“We are making good progress towards our key strategic ambitions, taking market share in our core regions and investing in our infrastructure to build a world class operational platform.

“In line with our commitment to building a sustainable future for all, we are proud to report that over 16,500 lives were positively impacted by the Group in the first half of the 2021 financial year. We significantly strengthened our position as talent providers to the low carbon transition and grew our renewables business by 37% in the first half of 2021 compared to HY 2020.”

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.