 |
Free umbrella service for contractors
Save over £1400 p.a on fees Click here or call 0845 602 7712. |
Leading agency reports sharp drop in contractor numbers
Posted Mar 9, 2009
Just months after announcing solid results for 2008, one of the leading contractor recruitment agencies has reported a sharp drop in contractor numbers over the past quarter.
SThree released an interim statement to the stockmarket containing financial and operational data for the quarter ending 1st March 2009
Sharp decline in contractor numbers
Unsurprisingly, given the economic climate, the Group suffered a sharp decline in permanent and contract placements during the quarter.
Additionally, its deal pipeline "indicates an overall deterioration in market conditions."
At the end of February 2009, SThree had 5,036 active contractors on its books, down almost 10% on the same quarter in 2008. This number also represented a 12.3% decline on its financial year end number of 5,745 contractors.
Interestingly, the Group says that the gross profit from contractor day rates remained strong.
During the last quarter, the Group made 1,728 permanent placements, a 24.5% drop on the same period in 2008.
Agency Comment
Russell Clements, Chief Executive, said:
"Given the extremely weak economic backdrop, we anticipated that 2009 would be an exceptionally tough year and this assumption has been borne out in the first quarter particularly in the UK where demand is very weak. Our international business has fared relatively better but given the global nature of the current downturn it is inevitable that these markets have also been impacted."
Contractor Services
- Clarity - Chartered Accountants - Fixed Fee £95/month. No hidden extras.
- Together we're stronger! - Join PCG, representing contractors
- Professional Indemnity Insurance - Essential contractor PI cover
- AccountsNet CA - PCG Accredited. Great Value @ £65pm - View Demo
- inniAccounts - Online Accountants, 24x7 Access, Free Demo
- Qdos - IR35 experts - Providers of low cost contractor insurance
- Free Umbrella Company - Save over £1400 p.a. on fees with Springboard
- Free IR35 & Tax Review - Call ICS on 0800 195 3750
- K & B Accountancy Group - Fixed fee contractor accounting only £75pm
- Parasol - the UK's favourite umbrella company
- planIT Services - Umbrella, Ltd company, free formation & IR35 review
- Cloud 9 Group - Umbrella Solutions only £9.95 per week
- Key Directories: Contractor Accountants | Umbrella Companies
- Financial Services: Income Protection | Contractor Mortgages | Pensions
- More Services: Compare Business Insurance | Company Formation
Related Articles
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
