Saongroup anticipates jump in revenue growth

Saongroup, Denis O’Brien’s online recruitment business, is anticipating further double digit percentage growth in revenues this year, after seeing a near 14% rise last year.

Newly published accounts show Saongroup — which operates in 29 countries including Ireland via IrishJobs.ie — grew its net turnover from €27.9m to €31.7m in 2011.

However, the group’s profits were eaten into due to increased investment in its established businesses and in developing markets. Operating profit was down by about 36% to just under €1.4m, with pre-tax profits falling from €1.97m to just over €1.1m. On an after- tax basis, the group saw a €1.1m profit in 2010 reverse into a €92,684 loss in 2011.