FINANCIALS: China’s 51job sees revenues rise by a third

China-based staffing provider 51job has seen revenues increase 31.1% year-on-year, according to results for the quarter to 30 September 2018.

The results from the integrated human resource services provider, released late yesterday, reveal revenues of RMB954.6m (£10.5.6m), with online recruitment services revenues up 33.0% on Q3 2017 to RMB649.3m and other HR-related revenues up 27.2% on Q3 2017 to RMB305.4m.

Gross margin stayed more or less the same – 72.5% compared with 72.8% in Q3 2017.

Commenting on the results, 51job president and CEO Rick Yan said: “Deploying a high-quality growth strategy by delivering the best to employers and jobseekers, we are pleased to report another quarter of solid financial results.

“In the third quarter, our online business again saw further improvement in average revenue per employer as we successfully drove greater spending by customers.

“In the other HR services area, demand and usage continued to see good growth as employers sought more assistance and solutions to address talent management challenges.

“With a broad portfolio of products and services, robust business fundamentals, and a long, proven track record of healthy, profitable operations, 51job remains confident and excited about the tremendous HR market opportunity in China.”

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