June 16, 2017 / 6:24 AM / 2 years ago

Recruiter SThree's profit rises on hiring in continental Europe, U.S.

June 16 (Reuters) - British recruiting firm SThree reported a rise in gross profit at constant currency for the first half, helped by strong performance in continental Europe and the United States, its two biggest markets.

SThree, which places people with financial, energy, banking and pharmaceutical companies, said gross profit at constant currency rose 2 percent to 134.3 million pounds ($171.5 million) for the six months to May 31.

Gross profit at constant currency for the UK and Ireland fell 16 percent to 27 million pounds, held back by a slower market following Britain’s vote to leave the European Union and public sector reforms, SThree said.

Gross profit is a key performance indicator for staffing companies as it represents total fees earned from all recruitment activities.

$1 = 0.7831 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Amrutha Gayathri

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