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51job sees profit up 31.5% in Q1

May. 14, 2012 (China Knowledge) - 51job Inc<JOBS>, a leading provider of integrated human resource services in China, reaped RMB 120.5 million or US$19.1 million in net profit in the first quarter of this year, 31.5% more than RMB 91.6 million it earned in the same period of 2011.

During the period from January to March 2012, the U.S.-listed firm's earnings per American Depository Share increased from RMB 3.10 to RMB 4.06.

Total revenue in the reporting period amounted to RMB 380.8 million, up 17.3% year on year from RMB 324.5 million, and within the firm's previous forecasted range of between RMB 375 million and RMB 390 million.

Online recruitment service revenue for the three months ended Mar. 31, 2012 grew 32.6%, but revenue from print advertising dropped 44.7% from a year earlier. Gross margin stood at 72.4%, higher than 70.5% in the first quarter of 2011.

51job had RMB 2.22 billion or US$352.9 million in cash and short-term investments at the end of March 2012, more than RMB 2.05 billion it had as of Dec. 31, 2011.

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