JobStreet.com Reports RM8.7 Million Net Profit for Q1 2010
18 May 2010
KUALA LUMPUR – 18 MAY 2010
JobStreet Corporation Berhad posted its quarterly results for the first quarter of 2010 with revenue increasing 27.0% against the same period last year and net profit attributable to shareholders increasing 55.3%. The increase in revenue and net profit were primarily a reflection of the improving economic conditions which positively impacted sales of the Group’s core products.
The increase in revenue for the quarter was mainly resulted from higher sales from JobStreet ESSENTIAL (online job posting service) which grew 53.0% year-on-year and JobStreet IMPACT (career website management service) which grew 84.9%. The high margins on these services resulted in pre-tax profit increasing by 87.6% against the same period last year.
In line with the Company’s earning growth, the Board of Directors has announced a revision in the Company’s dividend policy to distribute 50% of the Company’s net profit after taxation and minority interest. The Company will begin making quarterly dividends towards this annual target from the quarter ended 31 March 2010 and has in conjunction with the release of its Q1 numbers, declared the first tax exempt interim dividend of 1.25 sen per ordinary share for the 2010 financial year.
A year-on-year comparison:-
Mark Chang, CEO of JobStreet Corporation Berhad says “Our Regional Job Outlook Report for the 2nd quarter of this year revealed that while most respondents are generally feeling positive about employment prospects, employers are still wary when it comes to hiring activities. We are in a good position with our database of 7 million jobseekers to help employers fill their job vacancies quickly and with the right talent, as economic recovery continues.”
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 Main Board of Bursa Malaysia Securities (JOBST).