Recruitment firm SThree has projected annual profit to be slightly above market expectations following heightened staff demand for professionals in life sciences and technology in the United States and Germany.
The company said hiring improvement in the US and Germany could be seen in October and early November, sending shares up 2.8% in early trading.
CEO Mark Dorman said: “I am pleased to report that trading in the final quarter of the year is coming in ahead of expectations.
“This performance has been driven by hard work and dedication from our teams throughout the business, alongside learning to operate better in whatever environment we are in. This has enabled us to capitalise on current opportunities and to continue to build a strong platform for the future.”
Most global recruiters have been hit by a hiring slowdown due to Covid-19 lockdowns imposed by governments across the world, and SThree was among the first to flag an upturn to its business.
SThree, which operates in 16 countries, said in September its underlying sequential performance was improving since the first half of the year, even as it reported lower net fees for the third quarter.