British recruiting firm SThree Plc reported a 99% rise in annual pretax profit on Monday, helped by a red-hot job market as companies rush to fill-up vacancies post lockdowns.

The company, which specialises in hiring in the science, technology, engineering and mathematics (STEM) sectors, also saw a 15% rise in annual net fees.

"Whether it is engineers building green infrastructure, developers aiding digital transformation or the scientists helping to develop the next life-changing drug, we are proud to have placed more than 22,000 skilled people," interim Chief Executive Officer Timo Lehne said in a statement.

Recruitment firms, including peers Hays, PageGroup and Robert Walters, are witnessing a boom in hiring as economies recover, employees move jobs and employers struggle with talent shortages.

The London-listed company said adjusted pretax profit was 60 million pounds ($80.5 million) for the 12 months ended Nov. 30, compared with 30.1 million pounds reported in the year earlier. It was also up 7% from 2019 levels.

  - Reuters