- Considering the tough economic conditions last year, we think HRnetGroup (SGX:CHZ) has been resilient compared to its peers, backed by its co-ownership model with lower profit-sharing incentives in a downturn.
2H23 core earnings in line
- - Read this at SGinvestors.io -
- HRnetGroup declared a final dividend of S$0.0213, taking full-year payout to S$0.040 (or dividend payout ratio of 60%). See HRnetGroup's dividend dates.
Employment market remains cautious
- In 2H23, Professional Recruitment (PR) revenue fell 30% y-o-y to S$31m as hiring freezes and cautious sentiment prevailed across its key markets. On a full-year basis, HRnetGroup placed 5,774 (-19% y-o-y) candidates, while gross profit per placement also declined 16% to S$11.3k.
- - Read this at SGinvestors.io -
Shifting revenue mix toward FS
- Read more at SGinvestors.io.
