FINANCIALS: Japanese Recruit Group sees revenues rise

Indeed and Glassdoor owner Recruit Group has seen revenue rise 7% year-on-year, according to results for the nine months to 31 December 2018.

According to results released by the Japanese recruitment firm yesterday, group revenue increased to ¥1,730.4m (£12.2m), with Q3 2018 revenue up 6% year-on-year to ¥587m.

The group also saw operating income increase 15.3% for the nine months to 31 December 2018 to ¥192.1m, with Q3 2018 operating income up 12.6% to ¥65.6m on the same period of last year.

However, revenue from the group’s staffing segment was down 1.5% year-on-year in Q3 2018. While revenue from the group’s Japanese operations was up 7.8% amid strong demand for agency workers, revenue from its overseas operations was down 7.4%, which the group attributed mainly to an uncertain outlook for the European economy, the negative impact of foreign exchange rate movements and the adoption of international financial reporting standard IFRS 15.

Meanwhile the group’s HR technology segment saw revenue increase 48.4% in Q3 2018.

Recruit Holdings acquired career site Glassdoor in May last year. It acquired Indeed back in 2012.

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