Like clockwork, Jobs.ie racks up multimillion-euro profits

IRISH JOBS WEBSITE Jobs.ie netted over €2 million last year, helping to push its accumulated profits to almost €8 million.

According to new accounts just filed for the company, Jobs.ie made a gain of just over €2.7 million in the 12 months to the end of December 2015.

The amount owed by the company’s debtors rose from €7.6 million to €10.4 million, while its creditors stayed roughly static at just under €2.5 million.

The number of people employed by the company during the year rose from 24 to 25, and staff costs also jumped slightly, increasing from €1.7 million to €1.9 million.

Profitable
Jobs.ie has been consistent in its profitability for years, with its accumulated profits usually only dropping when it paid out a dividend to its immediate parent company, Saongroup.

The company has thousands of jobs listings on its website in a variety of positions, from construction to sales and recruitment.

Dublin-based Saongroup was owned by billionaire Denis O’Brien and his business associate Leslie Buckley before being sold in 2013 to international recruitment business StepStone.

Businessman Denis O'Brien

Saongroup also owns rival jobs website IrishJobs.ie, which tends to list more high-end professional positions than Jobs.ie, and has a number of websites in several different countries.

Dividend
Jobs.ie paid out a whopping €10 million dividend to Saongroup in 2014 after making a profit of €2.5 million during the year. The website also made a profit of about €2.1 million in 2013.

New accounts for Saongroup show that the firm has accumulated losses of €6.8 million as of the end of 2015, although this was down from just under €8 million in 2014 as the company made a profit of about €1.5 million during the year.

The company has been helped by the performance of Jobs.ie. In 2014, Saongroup’s accumulated losses plunged from €19.2 million to just over €8 million, mostly due to the €10 million dividend it received from the jobs website.