HRNetGroup Q2 profit jumps 78% to $13m

HRNetGroup's increase in net profit was attributed to the implementation of the 88GLOW Plan in June 2017.
HRNetGroup's increase in net profit was attributed to the implementation of the 88GLOW Plan in June 2017. PHOTO: ST FILE

SINGAPORE - Mainboard-listed recruitment firm HRNetGroup on Friday (Aug 10) posted a second quarter net profit of $13 million, up 78 per cent from $7.3 million a year ago.

The increase in net profit was attributed to the implementation of the 88GLOW Plan in June 2017, which saw the acquisition of certain co-owners' stakes, said HRNetGroup.

Revenue for the three months ended June 30 rose by 10.8 per cent to $108 million from $97.4 million last year on strong performance in professional recruitment in North Asia and Singapore.

Earnings per share came to 1.29 cents, up from the previous year's 0.73 cent.

No dividends have been declared for the period.