FINANCIALS: China’s 51job reveals rise in revenues

51job has seen revenues increase 22.4% year-on-year, according unaudited financial results for the third quarter of 2017 ended 30 September 2017.

The results, released by the China-based provider of integrated HR services today, reveal revenues increased to RMB728.2m (£83.4m), with online recruitment services revenues up 22.5% on Q3 2016 to RMB488.2m, along with other HR-related revenue up 22.1% on Q3 2016 to RMB240m and gross margin of 72.8% compared with 71.5% in Q3 2016.

Commenting on the results, president and CEO Rick Yan said: “Through clear and consistent execution of our strategic plan, we achieved solid revenue growth and margin improvement in the third quarter.

“The online business outperformed our expectations, with meaningful contribution from both new customer additions, as well as higher average spend per customer due to our successful up-selling efforts.

“The other HR services area is also regaining growth momentum as we better integrate and promote our product offerings into complete, end-to-end HR solutions for employers.

“We are excited that our business initiatives and investments are demonstrating strong and measurable progress across the board. We believe that 51job is better positioned than ever to efficiently and effectively capture the large HR market opportunity before us in China.”

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