JobStreet.com Delivers another Record Quarter with RM 10.56 Million Profit Before Tax
Kuala Lumpur, 23 November 2007
JobStreet Corporation Berhad (Mesdaq: "JOBS")
announces its 3rd quarter results for the period ended 30 September 2007.
In the 3rd quarter, JobStreet.com‘s profit before
tax increased to RM10.56 million compared to the corresponding quarter
in 2006 of RM5.74 million. This represented an increase of 84%. Profit
after tax and minority interest also grew to RM 8.95 million compared
to RM 4.81 million in last year’s 3rd quarter. The growth in profit
and improvement in operating margins was driven by an increase in job
posting sales of 42.8%.
A quarter-on-quarter and year-on-year performance comparison:-
| |
Quarter Ended |
%
Growth |
9-Month Period Ended |
%
Growth |
30.9.07
RM'000 |
30.9.06
RM'000 |
30.9.07
RM'000 |
30.9.07
RM'000 |
| Revenue |
21,753 |
16,819 |
29.3 |
59,895 |
49,875 |
20.1 |
| Profit before taxation |
10,555 |
5,743 |
83.8 |
26,056 |
16,929 |
53.9 |
| Profit after tax and minority interests |
8,953 |
4,805 |
86.3 |
22,177 |
14,154 |
56.7 |
“The third quarter is typically a strong period
for us with companies trying to hire staff before recruitment slows down
at year-end,” said Mark Chang, CEO of JobStreet Corporation Berhad.
“Further, there continues to be an increasing demand for, and difficulty
attracting, experienced staff throughout the region. We have over 1 million
jobseekers using our service in Malaysia now. As this talent becomes more
highly valued, the jobseekers and our business benefits.”
Datuk Ali Kadir, Chairman of JobStreet Corporation Berhad
added, “It’s very good to see such strong results as we move
closer to our transfer to the Main Board of Bursa Malaysia. Since our
IPO three years ago, we’ve established a consistent track-record
of delivering solid earnings growth with positive cash flow generation
and the high return on equity you would expect from a technology company.
All of this has been accomplished while executing our regional expansion
strategy into markets such as Indonesia, Bangladesh, Japan and Hong Kong
and adding significant depth to the management team. We hope to continue
to move from strength to strength and create value for all our stakeholders.”
JobStreet operates the JobStreet.com (www.jobstreet.com)
online recruitment websites presently covering the employment markets
in Malaysia, Singapore, Philippines, Indonesia, India and Bangladesh.
The Group also has recently established a subsidiary in Japan and has
an investment in Recruit Group Limited in Hong Kong. The Group currently
services over 45,000 corporate customers and over 4 million jobseekers
throughout the region.
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