HRnetGroup Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
August 10, 2018 at 10:02 am IST
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HRnetGroup Limited announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of SGD 108,010,000 as compared to SGD 97,444,000 for the same period last year. Profit before tax was SGD 17,212,000 as compared to SGD 11,274,000 for the same period last year. Profit for the period was SGD 13,882,000 as compared to SGD 8,902,000 for the same period last year. Profit attributable to owners of the company was SGD 13,012,000 as compared to SGD 7,330,000 for the same period last year. Net cash from operating activities was SGD 11,910,000 against SGD 5,066,000 a year ago. Purchase of plant and equipment was SGD 640,000 against SGD 350,000 a year ago. Basic and diluted earnings per share were 1.28 cents against 0.72 a year ago.
For the six months, the company reported revenue of SGD 215.0 million as compared to SGD 192.8 million for the same period last year. Profit before tax was SGD 37.4 million as compared to SGD 26.9 million for the same period last year. Profit for the period was SGD 31.1 million as compared to SGD 21.8 million for the same period last year. Diluted earnings per share were 2.89 cents against 1.82 a year ago.
HRnetGroup Limited is a Singapore-based investment holding company. It is a recruitment and staffing Company in Asia. The Company operates in three segments: Professional recruitment, Flexible staffing, and Others. It provides professional recruitment services primarily under its HRnetOne, PeopleSearch, PeopleFirst and SearchAsia brands and staffing solutions under its RecruitExpress and RecruitFirst brands. The Company sources, recommends, and hire the contractors on its payroll on a back-to-back basis. It provides recruitment process outsourcing (RPO) services, including workplace analysis and planning, contract negotiation, customized recruitment process and assessment, onboarding and offboarding, recruitment marketing programs, employee liaison and management, interviews, recommendations, and selection, and payroll services. It has 13 brands, 40 Business Units across 15 Asian cities and over 900 consultants. Its subsidiaries include HRnet One Pte Ltd and Recruit Express Pte Ltd.