51job.com’s Online Recruitment Net Profit Down 9.7%

Chinese Internet recruitment website 51job.com published its financial report for the first quarter ended March 31, 2013, stating that its total operating revenue was CNY380.4 million, a year-on-year decrease of 0.1%, and its net profit was CNY108.8 million, a year-on-year decrease of 9.7%.

According to the report, 51job.com’s online recruitment services gained 8.3% growth year-on-year, reaching an operating revenue of CNY248 million; its gross margin was 72.8%; its operating profit was CNY115.5 million, a year-on-year decrease of 11.7%; and its earnings per ordinary share were CNY1.82.

By March 31, 2013, the company held CNY2.808 billion cash and short-term investments.

Zhen Ronghui, president and chief executive officer of 51job.com, said that though the recruitment season was postponed due to the Spring Festival holiday in China and affected the company’s operating revenue in the first quarter of 2013, they still saw the stable increase of recruitment activities.

In 2013, 51job.com plans to focus on expanding customer scale and enhancing their relationship with human resources departments, so as to improve the cross-selling opportunities. At the same time, they will develop new innovative products to improve user participation while raising the efficiency of enterprise and individual clients.