Persol Holdings Ltd., one of the largest staffing firms globally, reported net sales rose 36.8% in its fiscal third quarter ended Dec. 31. The Tokyo-based company operates a joint venture in Asia Pacific with Kelly Services Inc. (NASD: KELYA) called PersolKelly, and last year acquired three US firms.

Fueling growth were enhancements to the Tokyo-based firm’s sales structure, steady growth in the PersolKelly segment and its acquisition of Programmed, a staffing provider in Australia, in 2017. On a macroeconomic level, Persol noted the future holds a high degree of uncertainty given US-China trade tensions and the UK’s exit from the EU. However, Japan’s economy experienced moderate growth, it said.

Turning to the company’s segments, PersolKelly net sales rose 16.3%, and revenue was up 5.0% in its largest segment, “temporary staffing/business process outsourcing.” The company attributed improved sales in PersolKelly to expanded sales structures achieved through the strengthening of sales team headcount in response to the buoyant APAC market environment.

Revenue by segment

Guidance

Persol forecast full-year sales of ¥940.0 million for the fiscal year ending March 31, 2019.

Share price and market cap

Shares in Persol closed unchanged today at ¥2,016. The company had a market cap of ¥477.20 billion (US$4.31 billion), according to FT.com