JobStreet Corporation Bhd recorded a 27.5 per cent increase in pre-tax profit to RM16.137 million for the first quarter
ended March 31, 2011 from RM12.656 million in previous corresponding period.

Revenue rose 21.7 per cent to RM33.626 million from RM27.627 million, the company said a filing to Bursa Malaysia today.

It said the increase in revenue was mainly due to higher sales reflecting higher recruitment activities.

'Revenue from job fairs in Indonesia and consulting services in Japan had also contributed to the increase in consolidated revenue,' it added.

On prospects for 2011, Jobstreet said the job market in the region and the demand for recruitment advertising services remained solid.

'During 2010, our primary regional competitor was acquired by SEEK Asia, whose ultimate parent company owns 22.2 per cent of JobStreet Corporation.

'This may lead to changes in the competitive environment going forward,' it said.

The performance of the group for the financial year ending Dec 31, 2011 is expected to be satisfactory, with the outcome dependent on sustained economic growth, the competitive environment, the ability of the group to increase sales and the performance of its investments. -- Bernama