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Sweden – NetJobs increases Q1 revenue and launches new company

10 May 2012

Net Jobs Group (NJOB:STO), a Sweden-based career website with a heavy presence in the Nordic countries, has increased first-quarter revenue by +8% to €1.38 million (SEK 12.3 million) from €1.27 million (SEK 11.4 million) a year ago. Operating profit was also up +65% to €0.43 million (SEK 3.9 million), compared to €0.27 million (SEK 2.4 million) as the operating margin jumped to 32.2% from 21% in the previous year.

Profit after tax increased by +62% to €0.31 million (SEK 2.8 million) in the first quarter 2012 from €0.19 million (SEK 1.7 million) a year ago.

The new CEO, Hristos Kitsos, who took over in January and had previously been the vice-president at the firm, said NetJobs had focused on its niche markets to drive up revenue as the company “continues to work methodically to improve existing products.”

In the first quarter the firm also established a new subsidiary, Karriärguiden Sverige AB, as the company expands in Sweden.

NetJobs Group is a Swedish company, providing specialist career websites. The firm has a wide network in the Nordic countries and owns 40 specialised and five general job websites in Sweden, Norway, Denmark, Finland and Germany. The company’s main product comprises job offers and its customers operate in both the private and public sector.

In early trading this morning, the firm’s share price jumped +6.25% to SEK 3.40, down -5.5% from a year ago and -17.5% below its 52-week high of SEK 4.12 set on 11 May 2011. This values the company at SEK 64 million or €7.2 million. 

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