Taiwanese job site operator 104 Corporation (TSE: 3130) saw operating income in the first quarter of 2020 grow by 15% year-on-year to NT$72 million ($2.4 million U.S.). The company attributed the increase to continuous growth of its job bank and executive search business.
Operating revenue in Q1 amounted to NT$397 million, up 5.2% year-on-year. Pre-tax income increased 19.3% to NT$77 million compared to NT$64.4 million in 2019.
While the Covid-19 crisis didn’t affect its bottom line in Q1, 104 Corp. suggested that the pandemic would have negative effects on its mainstay job listing business in the future.
“Influenced by the adverse impact of Covid-19 on global industries, the enterprises have gradually decreased the needs of talents recruitment and postponed the hiring since March,” the company said in a news release.
104 Corp. has operated in Taiwan since 1996 and runs a host of job sites, including 104.com.tw, Case.104.com.tw, which is targeted at freelance work, and Hunter.104.com.tw, a job search engine for executives. The company expanded into China in 2007 with 104China.com.