Global staffing giant Recruit Holdings reported a 25.2% year-on-year increase in its profit to Y59.3 billion ($559.7 million U.S.) for the first quarter ended June 30, 2019. This was mainly due to growth in operating income and gains as a result of the conversion of convertible bonds issued by 51Job, Inc. to equity by other investors during the three months, the company said in its financials.

Recruit’s revenue increased by 5.1% to Y594.4 billion ($5.6 billion U.S.). As expected, this was mainly due to growth in its HR Technology segment covering Indeed.com and Glassdoor.

The company’s international portfolio includes Indeed.com, Glassdoor and Workopolis.com, CV site Resume.com, temp app Syft, and automated recruitment platform ClickIQ.

The segment’s EBITDA surged 104.7% to Y19.3 billion. Its revenue increased by 47.5% to Y102.1 billion yen. Reported revenue growth was 46.3% on a U.S. dollar basis.

Revenue for Recruit’s housing and real estate segment primarily comes from advertising on property vertical Suumo.jp. Quarterly revenue from the segment rose 10.5% to Y26.7 billion.

Advertising revenue from the group’s multiple jobs sites in Japan — including Rikunabi Next and TownWork.net — increased 2.4% to Y71.9 billion in the quarter under review.

Recruit Holdings was founded in 1960 and operates at least 18 recruitment, auto, and real estate sites, along with dozens of staffing companies worldwide.

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