Recruitment firm Kos International (8042: HKG), based in Hong Kong, announced that it is expected to record revenue of not less than HKD 73 million (USD 9.3 million) for the nine months ended 30 September 2021.

This is compared to approximately HKD 49.1 million (USD 6.3 million) for the corresponding period in 2020.

Kos also announced that it expects net profit of not less than HKD 11 million (USD 1.4 million), as compared to approximately HKD 0.6 million (USD 77,026) for the corresponding period in 2020. This amount includes the government subsidies recognised by the group in the amount of approximately HKD 3.1 million (USD 0.4 million) for the nine months ended 30 September 2020 under the Employment Support Scheme and other subsidies under the government’s Anti-epidemic Fund in Hong Kong and Macau.

The expected increase in the group’s net profit for the period was mainly attributable to the increase in the revenue generated from the recruitment services as a result of the increased demand from the group’s clients.

The group said it benefited from the economic recovery from the Covid-19 pandemic seen in Hong Kong and in China. This recovery, combined with the group’s business expansion in China, led to the expected revenue growth during the period.

Shares in Kos closed yesterday at HKD 0.07 (USD 0.0090), no change on the day. The company has a market cap of HKD 59.20 million (USD 7.60 million).