LONDON -- SThree
Earnings per shares dropped 15% to 5.1 pence from 6 pence at the same stage last year, though the net cash position remains strong at 31million pounds after payment of a special dividend of 13.2 million pounds in December 2011.
Management seems optimistic, as gross profits at the international specialist staffing business were up 11% year over year to 99.9 million pounds, up from 90 million pounds at this point in 2011, while like-for-like gross profit is up 12.2%. Additionally, new offices have been opened in Oslo, San Diego, Rio de Janeiro, and Brisbane.
Russell Clements, chief executive officer, said: "The Group traded satisfactorily and in line with management's expectations in the first half, particularly given the deterioration in the macro-economic situation seen during the second quarter."
Citing the "seasonally more important second half," Clements continued: "Our strong net cash position will allow us to continue to invest in the Group's future growth while also underpinning our commitment to a robust dividend policy. With a seasoned and strengthened senior management team, we look forward to the future confident that we can optimise our performance whatever the prevailing market opportunity."
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