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Australia – Acquisition drives revenue at Careers Multilist

20 February 2013

Australian recruitment company Careers Multilist Ltd (CGR:ASX) today posted a +72% rise in revenue to AUD 49.76 million (USD 51.4 million) for the six-month period running to December. The increase in revenue was driven by a recent acquisition.

But net profit after tax was down -15% to AUD 0.52 million (USD 0.53 million). The firm said this was due to difficult trading conditions in the recruitment market. The company also said that demand for contract staff softened in the period.

But managing director, Daniel Riley, said he expects further revenue and profit growth this year.

In trading today, the company’s share price was up +4.2% to AUD 0.125, a +25% increase from a year ago. Based on its share price, the firm has a market value of AUD 7.49 million (USD 7.7 million).

Careers MultiList is a franchised recruitment business specialising in the supply of temporary, contract and permanent staff.

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