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View All NewsSingapore – HRnetGroup H2 revenue rises 41% as profits show improvement, full year revenue up 36%
25 February 2022
Singapore-based recruitment firm, HRnetGroup (HRNET:SP), reported revenue today for the six months ended 31 December 2021 of SGD 315.4 million (USD 232.9 million), an increase of 41.6% compared to the same period in the previous year.
| (SGD millions) | H2 2021 | H2 2020 | Change | H2 2021 (USD millions) |
| Revenue | 315.4 | 222.7 | 41.6% | 232.9 |
| Gross Profit | 93.1 | 66.8 | 39.2% | 68.7 |
| Net Profit After Tax | 32.2 | 27.6 | 16.8% | 23.7 |
Revenue by segment
| (SGD millions) | H2 2021 | H2 2020 | Change | H2 2021 (USD millions) |
| Professional Recruitment | 50.7 | 37.4 | 35.7% | 37.4 |
| Flexible Staffing | 263.0 | 183.4 | 43.3% | 194.2 |
| Other | 1.6 | 1.8 | -9.7% | 1.2 |
The company also reported revenue for the full year 2021 of SGD 590.54 million (USD 436.08 million), an increase of 36.4% over the previous year.
HRnetGroup operates in Singapore, China, Taiwan, Hong Kong, Japan, South Korea, Malaysia, Thailand and Indonesia.
Shares in HRnetGroup closed today at SGD 0.78 (USD 0.58), up 4.0% on the day. The company has a market cap of SGD 783.84 million (USD 578.77 million).