Jobs.ie profit rises to €2.54m
The accounts, just filed with the Companies Office, also show that last year’s profit followed a surplus of €2.1m in 2013 and €1.76m in 2012.
The €10m dividend payout last year reduced the firm’s accumulated profits from €12.69m to €5.23m. Jobs.ie counts blue chip businesses Apple, Dell, Lufthansa, SAP, Brown Thomas, Friends First, the Merrion Hotel, and Irish Life among its client base and the firm’s success has dealt a major blow to revenues generated by the newspaper industry in recruitment advertising.
The business operates from three offices in Ireland at Dublin, Limerick and Cork and the firm’s cash pile last year increased from €250,416 to €323,169.
In 2013, Stepstone purchased the bulk of the assets of Saongroup from billionaire businessmen Denis O’Brien and Lesley Buckley for an undisclosed sum. Stepstone is a division of German publisher Axel Springer.
The deal allowed the two to retain ownership of the Chinese and Burmese arms of the Saongroup. The €10m received in dividends last year from Jobs.ie helped the Saongroup record profits of €11.2m in 2014.
This followed the Saongroup recording a loss of €18.89m in 2013. A major contributor to the 2013 loss included an impairment of €7.25m on group assets and no further impairment was recorded in 2014. The group also received a capital contribution of €13.19m in 2013.
