Last year, HRnetGroup, which listed 18 months ago, was able to continue growing. It expanded into new markets, including Jakarta, Shanghai, Guangzhou, Suzhou and Hong Kong. It is operating in Jakarta under HRnetRimbun, in mainland China under REForce and in Hong Kong under Career Personnel.
HRnetGroup might have a certain heft, but Adeline Sim, executive director of HRnetGroup is on a constant lookout for established local partners to work with whenever the company moves into a new market.
For the year ended Dec 31, 2018, the company posted record earnings of $48.2 million, up 16.6% y-o-y. Revenue rose 9.3% y-o-y to $428.5 million. Besides organic growth, three acquisitions in new markets helped as well, bringing in an additional $2.9 million in gross profit and $4.4 million in revenue.
Find out more about the group’s expansion plans in this week’s The Edge Singapore (Issue 871, week of Mar 4), on sale now at newsstands. Subscribers can log in and read the story or click here to subscribe.
