51job : between web services and print advertising

By February 21, 2013

The Shanghai based provider of integrated human resource services in China announces its unaudited financial results for the fiscal year ended December 31, 2012.

51job's total revenues increased 10.4% from 2011 to RMB1,512.2 million (US$242.7 million). Operating income increased 10.1% over 2011 to RMB485.5 million. According to the company internal statistics, unique employers using its online recruitment services grew from 244,243 in 2011 to 272,322 in 2012 (+11.5%).

The estimated number of print advertising pages generated in 2012 decreased 54.1% to 2,742 compared with 5,980 estimated pages in 2011. For the first quarter of 2013, the Company says that its business outlook will be impacted by the late arrival of the Chinese New Year holiday relative to 2012. Based on current market conditions and an expected significant year-over-year decrease in print advertising revenues, the Company's revenue target for the first quarter of 2013 is in the estimated range of RMB380 million to RMB400 million.

51job continues its transitions from the newspaper related business, In November and December 2012, the Company discontinued the publication of 51job Weekly in Shanghai and Ningbo, respectively, but continues to maintain its facilities and all other operations in these cities.

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