FINANCIALS: 51job sees revenues rise by a third

51job has seen revenues increase 33.5% year-on-year, according to unaudited financial results for the first quarter to 31 March 2018.

The results, released late yesterday, reveal the China-based provider of integrated human resource services in China posted total revenues of RMB811.3m (£93.9m), with online recruitment services revenues up 30.5% over Q1 2017 to RMB548.3m and other human resource related revenues rising 40.2% to RMB263m on the same quarter last year.

Gross margin also increased to 74.4% compared with 73.5% in Q1 2017.

Commenting on the results, Rick Yan, president and CEO, said: “Consistent with our high-quality growth strategy, our online business saw further uplift in revenue per customer as we pursued up-selling to existing customers and increased prices on certain entry-level online packages this year.

“51job continues to be a pioneer and leader on the forefront of the HR industry in China, focused on delivering proven solutions, tangible results and dedicated long-term commitment to our employers, jobseekers, partners and shareholders.”

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