SINGAPORE (Nov 12): RHB Research is maintaining HRnetgroup at “buy” after the latter reported strong growth in its third-quarter top and bottom lines coupled with higher margins.

In 3Q18, HRnetgroup reported a 7.7% y-o-y rise in revenue to to $105 million while earnings grew 17.8% y-o-y to $12.6 million led by strong performance in its North Asia and Singapore units.

Gross profit margin also rose to 38% from 35% a year ago on higher contributions from its professional recruitment business which has a much higher margin of 99.6%.

See: HRnetGroup 3Q earnings up 17.5% to $12.6 mil

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