The lower y-o-y earnings come on the back of “challenging markets” in the global recruitment sector, which saw “significant declines” in revenues and profits around the world, says the group.<o:p></o:p>

Revenue fell by 6.2% y-o-y to $294.8 million with revenue declines in the group’s flexible staffing and professional recruitment segments. Flexible staffing saw revenue dip by 0.5% y-o-y to $258.6 million while professional recruitment saw revenue fall by 34.3% y-o-y to $34.3 million.<o:p></o:p>

Gross profit fell by 22.2% y-o-y to $71.5 million.<o:p></o:p>

Cash and cash equivalents as at June 30 stood at $261.8 million, down by 16.3% y-o-y.<o:p></o:p>

An interim dividend of 1.87 cents was declared. It will be paid out on Sept 11.<o:p></o:p>

<span class='see_also_inread'><b>See also: <a class='gtm_see_also_1_inread' style='text-decoration: underline;' href='/capital/results/vicplas-reports-521-lower-profit-after-tax-42-mil-fy2023?utm_source=website&utm_medium=article&utm_campaign=ONPAGESEO'>Vicplas reports 52.1% lower profit after tax of $4.2 mil for FY2023</a></b></span>

Shares in HRnetGroup closed 0.5 cents lower or 0.68% down at 73 cents on Aug 10.<o:p></o:p>

HRnetGroup reports earnings of $28.3 mil for the 1HFY2023, 18.3% lower y-o-y

VTAC proposes business combination with live streaming platform 17LIVE

Data is the new oil but is it as dirty?

'Transition credits' could sweeten deal for early retirement of coal-fired power plants: MAS, McKinsey paper

DPM Lawrence Wong appointed as GIC’s deputy chairman

Will the Rising Sun keep rising?

Trade Stocks, ETFs, Forex and Futures with Phillip Nova:

RHB ‘upbeat’ on Raffles Medical’s contract win for providing medical services at Connect@Changi

Redevelopment of Marina Square ‘decent RNAV accretion’ of 4% to 6% for UOL, says Citi

Citi ups TP while DBS keeps 'buy' call on Singtel following long-awaited divestment of loss-making Trustwave

HRnetGroup reports earnings of $28.3 mil for the 1HFY2023, 18.3% lower y-o-y

Related News

Highlights

VTAC proposes business combination with live streaming platform 17LIVE

Related News

Brokers' Digest: UMS Holdings, HRnetGroup, ST Engineering

Analysts lift ComfortDelGro’s TPs after earnings recovery

Q&M reports 46% lower earnings of $5.3 mil in 1HFY2023 as medical lab segment sees lower demand for Covid-19 testing