Profits fall at recruiter SThree

White-collar recruiter SThree said yesterday its profits before tax fell 16.9 per cent to £9.3m in the half year ended 27 May, on revenues that grew by nine per cent to £278.4m. The firm blamed high property costs and an increase in new sales heads for the fall in profits, but also said it planned to maintain its interim dividend at 4.7p per share. SThree announced last month that chief executive Russell Clements will retire next April.