Recruiter Sthree PLC (LON:STEM) indicated growth might slow down this year after a record 2019 with Europe in particular set to struggle.
Net fees rose 5% to £342mln in the year to November, driven by contract income rising by 10% and offsetting a 1% drop in permanent fees.
The company, which specialises in recruitment for science, technology, engineering and mathematics (STEM) sectors, has shifted its focus to contract staffing rather than permanent.
Profit before tax jumped 11% to £59mln on 7% higher revenue of £1.3bn, while the dividend rises 6% to 15.3p.
Analysts at house broker Liberum expect Sthree to outperform the market, with growth in Germany and the US, improvement in the UK and further investment in the Asia Pacific region.
The Benelux area is expected to have a “tougher start” due to macro conditions in the Netherlands and Belgium.
“We expect growth to be slightly more second-half weighted as comparatives ease and, potentially, macro conditions in various markets improve,” analysts said in a note.