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Australia – Rubicor reports revenue growth and Asian expansion

23 April 2015

Australian recruitment firm Rubicor Group (RUB: ASX), in a nine-month trading update for the three quarters ending 31 March 2015, reported revenue growth of 2.3% to AUD 152.6 million (USD 118.4 million).

Gross profit during the period increased by 3.2% to AUD 28 million (USD 21.7 million); while underlying EBITDA rose to AUD 1 million (USD 776,140), an increase of 66.8% compared with the same period last year.

Kevin Levine, CEO of Rubicor Group, commented: “Given the current economic climate and challenges facing the recruitment industry, we are pleased with the results we have achieved. These results highlight the success of the Group’s broader strategy, which is underpinned by a highly scalable and robust operational platform, which continues to enhance our stability and overall performance.”

Rubicor operates as a network of 15 specialist recruitment brands with offices in Australia, New Zealand, and in Southeast Asia.

The company’s technology, media, and communications recruitment and executive search brand, Xpand, commenced trading in Hong Kong in March 2015, further cementing Rubicor’s focus on continued Asian expansion.

Rubicor also advised that all major contracts that had been up for renewal throughout the nine-month period have been either re-signed or extended.

“This structure and consistent growth places Rubicor in a position to capitalise on potential growth opportunities in the market,” Mr Levine added.