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HRNet earnings up but analysts maintain conservative stance

Amala Balakrishner
Amala Balakrishner2/28/2020 1:5 PM GMT+08  • 4 min read
HRNet earnings up but analysts maintain conservative stance
“The majority of HRnet’s gross profit exposure is from Singapore and China, with both having a high number of confirmed cases. We therefore expect core earnings for FY20F to shrink by 12% y-o-y before recovering in FY21F,” DBS analysts say.
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SINGAPORE (Feb 28): Earnings of recruitment firm HRNetGroup was up 40.1% to $8.8 million in 4QFY2019, from $6.3 million in the corresponding period a year ago, as it booked one-off gains including from disposal of an investment.

Its substantial increase mitigated the 4.3% contraction in the group’s revenue to $103.9 million for the quarter.

Overall, HRNetGroup’s earnings for FY2019 was up 7.1% from the $48.2 million it logged a year ago.

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