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Investing.com -- SThree has reported a drop in its full-year net fees and anticipates that the current challenging market conditions will continue to impact its business activity through to 2025.
On Tuesday, the company reported that its group net fees fell 9% on-year to 369.1 million pounds ($461.4 million). The shares in the company fell 6%.
The company's profit before tax for the full year 2024 was 67.6 million pounds, a decrease from 77.9 million pounds in 2023.
SThree anticipates its full-year 2025 profit before tax to be approximately 25 million pounds. This includes up to 7 million pounds of one-off costs tied to operational efficiencies.
Chief Executive Officer Timo Lehne stated, "Whilst Contract extensions remain robust, the board has taken a prudent view of 2025 given the weak new business environment, which is expected to persist through the current year."
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