Monster Money - 10/2001

Andrew Wilkinson, Group Managing Director, Europe and Asia Pacific, Monster.com.

TMP has shown consistent year on year growth and profitability over the last decade. As its interactive arm, Monster has proven key in driving its record breaking financial performance. Monster's North American operation has been profitable for years and unlike any other online recruitment network this side of the Atlantic, Monster Europe is set to break even in 2002. Our continued growth in commissions and fees is indicative of the market's increasing demand for online recruitment and we are confident that this trend will continue despite the current economic slowdown.

We are all aware of the negative economic effects of last month's terrorist attacks on the economy at large and on the recruitment sector in particular. As larger corporations are all taking stock of where they are at the moment, there has been a sharp halt in what was already a slowing market. Despite this context, Monster has reason to remain upbeat. Our online database of CVs is growing by an average of 25,000 every day and this means that when the market does pick up Monster will be in an ideal position to offer employers access to the single largest database of candidates - a one stop shop in the war to find new talent.

Monster's ongoing success is reflected by its acquisition of Jobline and its bid for Hotjobs earlier this year, which boosted our local market presence from 13 to 21 countries worldwide. Our market dominance is also reflected in the fact that our European sites continue to see record numbers of CVs and account registrations each month. The totals now stand at 1,708,385 My Monster Accounts and 997,401 registered CVs across Europe. I feel that a categorical shift from traditional to online recruitment is taking place, fuelled by the market's growing need to recruit faster, better and more cost effectively.

www.monster.com