Last week, JobStreet.com announced its Q2 earnings results, and I would say that it is great to see that there is record revenue for the quarter, and the profit figure looks pretty good too.
JobStreet.com Reports RM11.1 Million Net Profit for Q2 2010
KUALA LUMPUR – 17 AUGUST 2010
JobStreet Corporation Berhad posted its unaudited quarterly results for the second quarter of 2010 with consolidated revenue and net profit attributable to shareholders increasing 29.9% and 52.4% year on year respectively. Generally, the strong quarterly earnings posted by the Group is a reflection of the ongoing economic recovery in the region.
The increase in revenue for the quarter was mainly resulted from higher revenues from JobStreet ESSENTIAL (online job posting service) which grew 58.3% year-on-year. This growth was combined with improved operating margins. The Group's investment in 104 Corporation (104 Corp) in Taiwan also contributed approximately RM 1.4 million to the profits as 104 Corp is now equity accounted for as an associate. Altogether, the Group's pre-tax profit recorded an increase of 78.5% against the same period last year.
In line with the financial performance of the Group and the revised dividend policy of the Company, the directors are happy to announce a second interim single tier dividend of 1.25 sen per share.
A year-on-year comparison:-
|
| Q2 2010 | Q2 2009 | % |
| Revenue | 29,741 | 22,892 | 29.9 |
| Profit before taxation | 15,736 | 8,817 | 78.5 |
| Profit after taxation and minority interests | 11,115 | 7,294 | 52.4 |
|
| Cumulative Period Ended | ||
|
| 30.06.2010 | 30.06.2009 | % |
| Revenue | 57,368 | 44,644 | 28.5 |
| Profit before taxation | 28,392 | 15,562 | 82.4 |
| Profit after taxation and minority interests | 19,807 | 12,889 | 53.7 |
Mark Chang, CEO of JobStreet Corporation Berhad says "Our Regional Job Outlook Report for the 3rd quarter of this year revealed that most respondents and employers are generally feeling more optimistic about job outlook and hiring activities. With our database of 7 million jobseekers regionally of which 1.5 million are from Malaysia, we see JobStreet.com as a catalyst in helping companies develop a quality workforce and indirectly contributing to the achievement of the country's goal of becoming a high income nation pursuant to the New Economic Model unveiled in March this year. Similarly, we hope to play this role in every other market that we're operating in."
About JobStreet.com
JobStreet operates the JobStreet.com (www.jobstreet.com) online recruitment websites presently covering the employment markets in Malaysia, Singapore, Philippines, Indonesia, India, Japan and Thailand. The Group currently services over 60,000 corporate customers and over 7 million jobseekers. JobStreet is listed on the Main Market of Bursa Malaysia Securities (JOBST).
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