Online Recruitment Sites fighting for market share via Taxi Ads

These days when you drive along streets in Kuala Lumpur you bound to see plenty of AD shown at the back of many taxis and most of these ADs are for Online Job Recruitment site. Popular online recruitment sites fighting these AD war are Jobs Street, Jobs and More and Jobs DB. New entry to the scene is Jen Jobs. Jen Jobs offer free posting for Year 2006. however offer free job posting forever.

Online recruitment site seem to be very lucrative and you may see more entries in the future. That is understandable as Jobs Street made solid profit in year 2005.

JobStreet 2005 net profit rises 76% to RM16.4 million
27/02/2006 10:20:00

JobStreet, a online recruitment company in the region, listed on the Mesdaq market of Bursa Malaysia, today announces that it has posted a higher net profit of RM16.4 million for the financial year ended December 31, 2005 compared with RM9.3 million the previous year. This represents year-on-year growth of 76%.

The net profit of RM16.4 million was achieved on the back of revenue amounting to RM55.0 million for the year ended 31 December 2005, representing year-on-year growth of 57.4% compared to RM34.9 million in the corresponding period in 2004.

For the fourth quarter, the JobStreet Group’s revenue rose to RM14.3 million, recording a growth of 50.2% compared to RM9.5 million in the corresponding period in 2004. In terms of profitability, the Group’s profit after taxation and minority interests also increased to RM4.4 million, chalking an 80% increase as compared to the RM2.5 million reported in the corresponding quarter of 2004.

Mark Chang, CEO of JobStreet Corporation Berhad, says: “We are happy with the Group’s performance as JobStreet has continued to deliver solid growth and profits in the year after our IPO. This is a reflection of customers’ confidence in online recruitment services as more and more employers and jobseekers are using us. Our growth in revenue and profits were attributed to an expansion in customer base with more and more companies finding out how easy, fast and cost-effective online recruitment is.”

JobStreet operates the online recruitment websites presently covering the employment markets in Malaysia, Singapore, India, Indonesia and Philippines. The Group currently services over 20,000 corporate customers and over 3 million jobseekers.

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