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Surging candidate numbers produce first profits for RexOnline - 12/2000

Hits will exceed 5 million a month

Interim figures released by RexOnline plc show that it has become the first quoted online recruitment company to declare a profit. In sharp contrast to the substantial losses produced by the other firms in this highly competitive online jobs market, the Berkshire company generated a net profit before tax of 70 000 in the six months to 31 October 2000. This compares with a loss of 144 000 for the same period last year.

Turnover leapt by 325 per cent to 923,000, partly as a result of booming candidate numbers, which have been increasing by approximately 3500 each month, and partly from the large demand for the companys online services. Hits on all RexOnlines network of sites now exceed 5 million a month.
We have over 62 000 unique site users and 149 000 user sessions per month, commented RexOnlines CEO Simon Hersh. We are confident that we will continue to grow our business by providing a market-leading service to our candidates and clients. Expansion is expected to proceed both organically and by acquisition, with three new niche recruitment sites planned for 2001.