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<\/p>\nPre-tax profits at the Irish arm of recruitment giant Indeed this year decreased by 6% to \u20ac606.83m against the background of an “uncertain economic environment”.<\/p>\n
New accounts filed by Indeed Operations Ireland Ltd show that the profits declined as revenues increased by 8% from \u20ac1.65 billion to \u20ac1.78 billion in the 12 months to the end of March this year.<\/p>\n
The company paid out a dividend of \u20ac1.2 billion in July 2024 and in a post balance sheet event paid out a further \u20ac520m dividend in April of this year.<\/p>\n
The pre-tax profits of \u20ac606.83m for the 12 months to the end of March follow pre-tax profits of \u20ac647.18m in the prior year.<\/p>\n
The directors state that the company is operating in an uncertain economic environment.<\/p>\n
Today’s report states that “nevertheless, the directors believe that the company is well positioned for the long term”.<\/p>\n
Numbers employed by the company reduced by 111 from 1,285 to 1,174 and the company’s staff costs reduced from \u20ac173m to \u20ac163.5m.<\/p>\n
The staff costs included severance costs of \u20ac3.35m that included \u20ac2.82m under that heading in 2024. Staff costs also included share based payments of \u20ac18.75m this year.<\/p>\n
Indeed is the world’s number one job site and a global leader in job matching and hiring, operating in over 60 countries.<\/p>\n
In September, the company announced further redundancies in Dublin as it continued to “focus on AI”.<\/p>\n
The company generates its revenue primarily through online job advertising.<\/p>\n
The directors state that changes in US tariffs, immigration policy and DEI (Diversity Equality and Inclusion) policy after the change in administration create uncertainty.<\/p>\n
<\/p>\n
On economic risks facing the business, the directors also state that “due to increasing interest rates in the US and widespread lay-offs in the tech sector, business clients are concerned about an economic downturn”.<\/p>\n
They state that this has resulted in a decrease in hiring activities and a return to a more historical balance between labour supply and demand.<\/p>\n
Similar trends are seen in many regions outside the US and if this trend continues, they say there is a possibility that job advertising in HR Technology would be adversely impacted for a long period of time.<\/p>\n
The company’s operating profits reduced by 4% from \u20ac600.8m to \u20ac575.2m and pre-tax profits were boosted by combined net interest income and an impairment reversal of \u20ac31.56m.<\/p>\n
The company recorded a post tax profit of \u20ac516.2m after incurring a corporation tax charge of \u20ac90.6m.<\/p>\n
After the dividend payout, accumulated profits this year reduced from \u20ac1.35 billion to \u20ac674.6m.<\/p>\n
The profit this year takes account of combined non-cash amortisation and depreciation costs of \u20ac17.9m.<\/p>\n
The workforce of 1,174 is made up of 831 in sales and marketing, 226 in administration and 117 in business development.<\/p>\n
Directors’ pay this year increased from \u20ac3.64m to \u20ac5.23m.<\/p>\n
The company is owned by Recruit Holdings Co Ltd which is headquartered in Tokyo and listed on the Tokyo Stock Exchange.<\/p>\n
Reporting by Gordon Deegan<\/p>\n","protected":false},"excerpt":{"rendered":"Pre-tax profits at the Irish arm of recruitment giant Indeed this year decreased by 6% to \u20ac606.83m against…\n","protected":false},"author":2,"featured_media":205744,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-205743","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/205743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=205743"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/205743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/205744"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=205743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=205743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=205743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}