China’s leading job recruitment board, 51Job Inc., did better than expected in the second quarter of 2015, according to figures released this week.
Total revenue increased by 11 percent over the Q2 of 2014 to RMB 508.0 million ($81.9 million U.S.), exceeding the company’s guidance range. Of this, online recruitment services revenue increased by 7.6 percent year-over-year to RMB 335.7 million ($54.1 million), which reflected the impact of a 6 percent value-added tax policy change effective from June 1, 2014. Other human resources services increased by 19.5 percent year-over-year to RMB 171.1 million ($27.6 million).
Net income for Q2 was RMB 137.0 million ($22.1 million) compared with RMB 52.0 million in Q2 the previous year.
The company is listed on Nasdaq as JOBS.
“While we navigate through this period of softer recruitment demand in 2015, we are pleased that our value-added HR services maintained its solid growth momentum through strengthened sales efforts to generate high quality revenues from our core customer base in the second quarter,” said Rick Yan (Zhen Ronghui), president and CEO. He mentioned also the completed acquisition of Yingjiesheng.com, a Shanghai-based campus recruitment website, investments in other HR services providers and the ongoing development of the company’s new high-end recruitment site.
In its Q3 guidance, 51Job said its revenue target is RMB 505 million to RMB 525 million ($81.5 million to $84.7 million), based on current market conditions.
For the complete news release, click here.