JobStreet Group sees revenues up 574 per cent and net profit up 74 per cent for the year ending December 31, 2005
Released on = March 3, 2006, 2:43 am
Press Release Author = PRHUB
Industry = Human Resources
Press Release Summary = JobStreet, a leading online recruitment company in the region, listed on the Mesdaq market of Bursa Malaysia, today announced that it has posted a higher net profit of Rs.196.8 million for the financial year ended December 31, 2005 compared with Rs.111.6 million the previous year, representing year-on-year growth of 76%.
Press Release Body = Bangalore, March 3, 2006: JobStreet, a leading online recruitment company in the region, listed on the Mesdaq market of Bursa Malaysia, today announced that it has posted a higher net profit of Rs.196.8 million for the financial year ended December 31, 2005 compared with Rs.111.6 million the previous year, representing year-on-year growth of 76%. The revenues for the year ending 31 December 2005 were Rs.660 million representing an year-on-year growth of 57.4% compared to Rs.418.8 million the previous year. For the fourth quarter, the JobStreet Group’s revenue rose to Rs.171.6 million recording a growth of 50.2% compared to Rs.114 million in the corresponding period in 2004. In terms of profitability, the Group’s profit after taxation and minority interests also increased to Rs.52.8 million representing a remarkable growth as compared to the Rs.25 million reported in the corresponding quarter of 2004.
Commenting on the excellent results, Mark Chang, CEO of JobStreet Corporation Berhad, said,\"We are happy with the Group’s performance as JobStreet has continued to deliver solid growth and profits in the year after our IPO. This is a reflection of customers’ confidence in online recruitment services as more and more employers and jobseekers are using us. Our growth in revenue and profits were attributed to an expansion in customer base with more and more companies finding out how easy, fast and cost-effective online recruitment is.”
JobStreet group operates the JobStreet.com online recruitment portals in Malaysia, Singapore, India, Indonesia and Philippines. The Group currently services over 20,000 corporate customers and 4 million jobseekers. It is also a leading supplier of Applicant Tracking Solutions in the region. JobStreet.com’s other international partnerships for marketing job postings include Seek.com.au (Australia & New Zealand). JobStreet is the only listed job portal in the region listed on MESDAQ in Malaysia (Ticker JOBS). JobStreet is a TRUSTe® certified job portal, assuring privacy of the data gathered. For editorial enquiries only contact Sonia/Prakruthi of PRHUB @ 22998141.
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