New accounts filed by Indeed Operations Ireland Ltd show that the profits declined as revenues increased by 8pc from €1.65bn to €1.78bn in the 12 months to the end of March this year.
The company paid out a dividend of €1.2bn in July 2024 and in a post balance sheet event paid out a further €520m dividend in April of this year.
The pre-tax profits of €606.83m for the 12 months to the end of March follow pre-tax profits of €647.18m in the prior year.
The directors say that the company is operating in an uncertain economic environment.
The report says that “nevertheless, the directors believe that the company is well positioned for the long term”.
Numbers employed by the company reduced by 111 from 1,285 to 1,174 and the company’s staff costs reduced from €173m to €163.5m.
The staff costs included severance costs of €3.35m that included €2.82m under that heading in 2024.
Staff costs also included share-based payments of €18.75m this year.
Indeed is the world’s number one job site and a global leader in job matching and hiring, operating in more than 60 countries.
In September, the company announced further redundancies in Dublin as it continued to “focus on AI”.
The company generates its revenue primarily through online job advertising.
The directors say that changes in US tariffs, immigration policy and DEI (diversity, equality and inclusion) policy after the change in administration create uncertainty.
On economic risks facing the business, the directors also say 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”.
They say that this has resulted in a decrease in hiring activities and a return to a more historical balance between labour supply and demand.
The company recorded a post-tax profit of €516.2m after incurring a corporation tax charge of €90.6m. After the dividend payout, accumulated profits this year reduced from €1.35bn to €674.6m.
The profit this year takes account of combined non-cash amortisation and depreciation costs of €17.9m.
Directors’ pay this year increased from €3.64m to €5.23m.
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