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View All NewsMalaysia – After sale of job boards, JobStreet reports revenue growth from continuing operations
Malaysian job board JobStreet (JOBST: KLS) yesterday reported revenue from continuing operations of MYR 15.5 million (USD 4.3 million) during Q4 2014, an increase of 1,249.3% compared with MYR 1.1 million (USD 302,324) during the same period last year.
Jobstreet had been involved in a lengthy acquisition process that was finally concluded in November 2014. The company’s online employment businesses were sold to SEEK Asia, a majority own subsidiary of Australian job board SEEK, for a total consideration of MYR 1.9 billion (USD 522.2 million).
The group’s continuing operations generated revenue mainly from dividend income and operations in Japan, India, and Malaysia. Subsequent to the disposal of the job boards, JobStreet advised that the Group’s future prospects will be dependent on the performance of its associated companies in Taiwan and Malaysia, quoted investment in Hong Kong, and operating activities in Malaysia.
| Q4 2014 | Q4 2013 | Change | |
| Revenue - Continuing Operations | MYR 15.5 million | MYR 1.1 million | +1,249.3% |
| USD 4.3 million | USD 302,324 | ||
| Revenue – Discontinued Operations | MYR 23.2 million | MYR 40.4 million | -42.1% |
| USD 6.4 million | USD 11.1 million | ||
| Total Revenue | MYR 38.6 million | MYR 41.5 million | -6.9% |
| USD 10.6 million | USD 11.4 million |
On an annual basis, the company reported revenue from continuing operations of MYR 21.6 million (USD 5.9 million), an increase of 152.3% from MYR 8.6 million (USD 2.4 million).
| FY 2014 | FY 2013 | Change | |
| Revenue - Continuing Operations | MYR 21.6 million | MYR 8.6 million | +152.3% |
| USD 5.9 million | USD 2.4 million | ||
| Revenue – Discontinued Operations | MYR 164.7 million | MYR 169.1 million | -2.6% |
| USD 45.3 million | USD 46.5 million | ||
| Total Revenue | MYR 186.3 million | MYR 177.7 million | +4.8% |
| USD 51.2 million | USD 48.8 million |
JobStreet operates across three primary geographies. Q4 2014 continued and discontinued revenue was broken down as follows:
| (Millions) | Malaysia | Singapore | Philippines | Other |
| Continuing Operations | MYR 310.9 | MYR 0.0 | MYR 0.0 | MYR 1.1 |
| USD 85.4 | USD 0.0 | USD 0.0 | USD 0.3 | |
| Discontinued Operations | MYR 112.8 | MYR 48.8 | MYR 36.0 | MYR 9.5 |
| USD 31.0 | USD 13.4 | USD 9.9 | USD 2.6 | |
| Total Revenue | MYR 423.7 | MYR 48.9 | MYR 36.0 | MYR 10.6 |
| USD 116.5 | USD 13.4 | USD 9.9 | USD 2.9 |