Saongroup.com, the parent company of IrishJobs.ie continued on its path as one of the fastest-growing online recruitment companies in the world in 2011, with both revenue growth and further expansion, across four continents.
Year-on-year group turnover increased by 14% to €31.7 million, compared to €27.4 million in 2010. This underpins the continued success of Saongroup’s dual strategy of organic growth and growth by acquisition.
Due to investment in both the Group’s developing markets and its established businesses, pre-tax profit reduced to €1.1 million, a X% decrease on the €2.0 million recorded the previous year. The focus of the added investment by Saongroup was in sales and marketing, to maximise on the opportunity presented by improving market conditions.
China continued to be a key driver in the expansion of Saongroup in 2011 where there was significant resource investment including managerial and financial, in developing the group’s presence. By year-end, the Group was present with live on-line recruitment businesses in 100 Chinese cities.
South African subsidiary PNet continued to operate successfully and held the leading market position at the end of 2011. The Group also launched a number of country-specific websites in Sub-Saharan Africa including the establishment of operations in Kenya. Activity in Africa is a clear example of the Group’s strategy to target markets with low internet penetration and clear future growth potential.
In the Americas, Saongroup further expanded its operations by launching a new website in Nicaragua and opening an office in the Caribbean island of Barbados.
A further focus for Saongroup was to continue to strengthen its leading market positions across the Group’s European businesses.
“We are very pleased with the progress made in the business in 2011 across the four continents in which we are present,” said Leslie Buckley, Chairman, Saongroup.com. “While we have worked to build on the solid foundations created across the Group’s businesses, there is still enormous potential for and great opportunity for future growth.”
“We have adhered to our simple dual strategy of organic growth and growth by acquisition, underpinned by focusing on markets with low internet penetration with real future growth potential.” said Ciaran McCooey, CEO, Saongroup.com. “Across China, Africa, and Americas, the Group can achieve considerable growth in the years ahead.”