topjobs.net Issues Spectacular Figures

topjobs.net plc Wednesday announced
third quarter figures that show spectacular growth.

Unique visits to the topjobs.net Web site were up by
379 per cent on the year, while the number of registered
job seekers increased to 0.44 million, up 31 per cent over
the previous quarter and a massive 593 per cent year on year.

Most importantly in the eyes of the market, topjobs.net’s
revenues for the third quarter reached £1.4 million
($2.38 million), an increase of 231 per cent over the same
quarter in the previous year.

The results are all the more impressive because during
the quarter (to December 31, 1999) topjobs.net discontinued
its operations in the United States, resulting in a
one-time write-down of goodwill costing £0.42 million
($0.67 million).

Speaking of the abortive U.S. venture, Chief Operating Officer
Brian Mosley said that topjobs.net established a presence
in select markets in February 1999 with the aim of assessing
their potential.

“On review, we decided to discontinue our U.S. operation and
redirect our resources to markets that hold the most potential
for generating meaningful revenues for our company, and that
advance our growth strategy.”

The strategy appears to be paying off, with topjobs.net
spending heavily to boost its brand in the U.K., Ireland and
Switzerland, while also establishing it in newer markets
such as Sweden, Norway and The Netherlands.

Mosley said that topjobs.net had significantly broadened its
European reach this quarter by opening in The Netherlands
where the Internet reaches 15 per cent of the population.

“There is an increasing demand by employers, including from
many large Dutch and Dutch-based multinationals, for the
type of Internet-based recruitment services provided by our
company,” said Mosley.

The last quarter figures do not tell the whole story, however.
During January 2000, traffic to the Top Jobs on the Net web
sites was up 80 per cent on December 1999.

topjobs.net’s flagship site in the U.K.,
topjobs.co.uk,
showed a 125 per cent increase in January traffic compared
to the previous month, indicating that the growth is not
coming just from new sites.

Top Jobs on the Net has a partnership with AOL Europe which
came into effect at the beginning of this year.