The specialist science and technology recruiter SThree had a rocky start to the day following the publication of its full year trading update. Management were keen to stress that this picture had already been well communicated to the market, with a challenging economic backdrop taking a toll on revenues, profitability and ultimately dividend. The picture looks no brighter for the year ahead, either, with profits set to be squeezed further still and the market responded by marking down the SThree share price more than 6% in early trade.
A Q1 trading update from SSP Group, the operator of food outlets across many transport hubs, has given the stock a lift on Tuesday morning. Sales are up 11% at a group level, with a particularly strong performance being noted in the APAC and EEME regions. Full year planning assumptions remain in tact and the process of listing the company’s joint venture in India on the local exchange continues to progress. Management also note that growth in the higher returning regions was particularly pleasing. The SSP Group share prices was up 6% by 8.30am.
The global distributor of MRO solutions to industrial customers has this morning delivered a Q3 trading update. Declining industrial production and PMI data is behind a 3% fall in group revenue, although management note that the performance in the Americas was meaningfully stronger than had been seen in Europe. Management highlighted the cost discipline in the business along with investment to further differentiate the proposition, but the quarter was softer than expected and with weak business confidence in EMEA also noted, expectations are for full year profits to land at the foot of consensus expectations. The RS Group share price
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