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France — Adenclassifieds returns to growth of deferred revenue

29 July 2010
Adenclassifieds (ADEN:PAR), the recruitment, training and property internet portal, which is majority-owned by the Figaro publishing group announced last night that Q2 revenues were up by +20.6% from 12.3 million Euro in 2009 to 14.8 million Euro in 2010. Like-for-like, Q2 revenues were down by -4% for the quarter end 30 June 2010.

Q2 revenues generated from recruitment, were down by -2.2% from 9 million Euro in 2009 to 8.8 million Euro in 2010. Like-for-like, Q2 revenues, generated from recruitment, were down by -8.8%.

In H1 2010, recruitment represented 58% of all total revenues down from 73% in H1 2009. In H1 2010, property advertising represented 36% of total revenues (2009: 19%) and training represented 7% of total revenues (2009: 8%).

The group says in a statement "the increase in orders across the group's activities over the first quarter of 2010 continued over the second quarter, illustrating the group's ability to harness, thanks to the quality of its brands and its teams, the effects of the upturn in the Recruitment and Property markets."

"The return to growth of deferred revenue, a leading indicator of the group's future performance, points to an improvement in revenue over the second half of 2010. At 30 June 2010, Adenclassifieds had a cash position of 54.5 million Euro."

In early trading Adenclassified's shares were unchanged at 19.50 Euro.



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