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Job board, JobStreet Corporation Bhd. (JOBST:KLS), reported its first-quarter results which showed that revenue in the first three months of the year rose to USD 14.28 million (MYR 43.176 million), an increase of +14% from a year ago.
Pre-tax profit amounted to USD 7.16 million (MYR 21.664 million), up +42% compared to the same time a year ago. Net Profit also rose a strong +48% to USD 5.07 million (MYR 15.351 million).
JobStreet has recently recorded stronger than expected job postings in the Philippines and Indonesia. The increase in revenue for the quarter was mainly due to the strong sales of online job posting services.
But in trading today, the company’s share price dropped by nearly -1% to MYR 3.67, although this is up a sharp +56% from a year ago. Based on this stock price the firm has a market value of USD 383.7 million (MYR 1.16 billion).
Founded in 1995, JobStreet claims to be the leading job site in Malaysia (responsible for 60% of revenue). JobStreet also operates in India, Indonesia, Japan, Hong Kong, Philippines, Singapore, Thailand and more recently opened in Vietnam. The firm provides online recruitment and human resource management services. The Group currently services over 80,000 corporate customers and over 11 million jobseekers in its database.