JobStreet 1st Quarter profit before tax rises 40% to a record of RM5.5 million
Kuala Lumpur, 17 May 2006
JobStreet Corporation Berhad ("JOBS"), a leading online recruitment company in the region, listed on the Mesdaq market of Bursa Malaysia, today announces that it has posted a higher profit before taxation of RM5.5 million for the first quarter ended 31 March 2006, compared with RM3.9 million in the corresponding quarter in 2005. This represents a year-on-year growth of 40%.
The profit before taxation of RM5.5 million was achieved on the back of revenue amounting to RM15.6 million for the first quarter ended 31 March 2006, representing year-on-year growth of 32%, compared to RM11.8 million in the corresponding quarter in 2005.
| |
Q1 2006
RM'000 |
Q1 2005
RM'000 |
% Growth
vs. Prior Year |
| Revenue |
15,631 |
11,821 |
32.2% |
| Profit before taxation |
5,490 |
3,920 |
40.1% |
| Profit after taxation and minority interests |
4,468 |
3,533 |
26.5% |
Mark Chang, CEO of JobStreet Corporation Berhad, says: "We are happy with the Group’s performance as the record revenue and profit are attributed to continuing the strong demand for the Group’s core products, mainly online job postings and our IMPACT career website management service. This is a reflection of the customers’ confidence in JobStreet as we experienced growth in customer base, with more and more companies choosing JobStreet for simple, speedy and cost-effective online recruitment.
Our operations in the Singapore and Philippines continue to grow at a strong pace while our Malaysian operations continue to be the main source of revenue and profitability. To ensure long term sustainability of our business and growth in shareholder value, we look to diversify our earnings base into new markets. We have had our soft launch in Indonesia in March. We are also excited by the potential for other regional expansion to new markets such as Bangladesh. Finally, with respect to JobStreet India, we look forward to our partnership with Television Eighteen India Limited which is targeted to be completed within the next three months.”
JobStreet operates the JobStreet.com online recruitment websites presently covering the employment markets in Malaysia, Singapore, India, Indonesia and the Philippines. The Group currently services over 25,000 corporate customers and over three million jobseekers.
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