To The Moon

$HRnetGroup(CHZ.SI)$  

 The Group delivered steady results for 1H 2025, with revenue increasing 3.4% to S$295.5 million

and PATMI rising 29.2% to S$28.0 million, reflecting operational resilience and financial discipline

in a fluid macro environment.

An interim dividend of 2 cents per share, representing a 67% payout of 1H 2025 NPAT, has been

declared for payment on 2 September 2025.

Business Segments

Flexible Staffing (FS)

Revenue increased by S$10.5m (4.1%) to S$265.8m, maintaining its share of Group revenue at

89.9% and contribution to gross profit (GP) at 52.0%.

Contractor volume grew by 3.7% to 16,140, led by activity in Taipei, Jakarta, and Shanghai. GP

per contractor declined 6.3%, resulting in a 2.8% reduction in FS GP to S$31.8m.

GP Margin eased to 12.0% (1H 2024: 12.8%), largely due to higher volume contributions from

lower-margin international markets, and a dip in volumes from the relatively higher-margin

Singapore FS business.

Outlook on Macro Risks

The outlook for 2H remains uncertain, with evolving trade dynamics potentially influencing client

hiring plans:

 Singapore’s base tariff rate remains low at 10%, but global trade linkages may pose indirect

risks.

 Taiwan’s effective tariff rate has eased to 20%, narrowing the gap with ASEAN.

 Mainland China continues to face 30% export and 10% US import tariffs, with transshipment

routes under scrutiny.

https://sporeshare.blogspot.com/2025/08/hrnet-group-revenue-increasing-34-to.html