HRnet Q4 profit rises 23.2% to S$12.2m

HRNETGROUP (HRnet) fourth-quarter net profit rose 23.2 per cent to S$12.2 million from the previous year, the group said in a Singapore Exchange filing on Monday morning.

For the three months ended Dec 31, revenue rose 9.5 per cent to S$101.7 million from the previous year.

For the full year, gross revenue increased 7.4 per cent to S$391.9 million year on year, while net profit rose 0.6 per cent to S$41.3 million.

The increase in full-year revenue was attributed mainly due to its flexible staffing business in Singapore registering strong growth throughout the year, the homegrown recruitment agency said.

Net asset value per share climbed to 30.9 Singapore cents as at Dec 31, from 10.93 Singapore cents a year ago.

For the full year, HRnet is proposing a final dividend of 2.3 cents per ordinary share.

HRnet shares were trading S$0.005 or 0.6 per cent up at S$0.79 as at 10.13am on Monday.