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Jobindex A/S (JOBNDX:CPH), the Denmark-based job board specialist, announces interim results for the 3rd quarter of 2009.
Net sales fell from 3.9 million Euro in Q3 2008 to 2.1 million Euro in the same period of this year. Profit before tax fell from 1.6 million Euro in 2008 to 443,000 Euro in 2009.
The company says in a statement "according to the Association of Danish Interactive media the total internet job advertising market has shrunk by 54% from 28.3 million Euro in H1 2008 to 13.1 million Euro in H1 2009."
"During the same period the total number of internet job advertisements fell by 58%. Jobindex's turnover, however, only fell by 51% during that period. We are therefore gaining market share."
"The economic crisis is also speeding up the move of job advertisements from newspapers to the internet. We expect our total annual net sales to reach 9.5 million Euro with a profit before tax of 2 million Euro and we expect similar numbers for the year 2010."
Jobindex searches for job advertisements in over 500 job fairs and job sites of private companies in Denmark. Jobindex offers the overview of approximately 85% of all Danish job advertisements on the Internet. It operates job databases through the Jobsafari database in 10 European countries: Sweden, Norway, Finland, Germany, the Netherlands, the United Kingdom, France, Austria, Switzerland and Spain.
In early trading Jobindex's shares were unchanged at 240 Danish Kroner.