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View All NewsPersol Holdings revenue up 22% for fiscal year; PersolKelly joint venture revenue jumps
Persol Holdings Ltd. reported this week that revenue rose 22.0% for its fiscal year ended March 31, 2018. The Tokyo-based company operates a joint venture in Asia Pacific with Kelly Services Inc. (NASD: KELYA), and Persol has been investing in US businesses as well with acquisitions earlier this year.
The company posted revenue of ¥722.18 billion, or US$6.79 billion.
| (¥millions) | FY 2017 | FY 2016 | % change | FY 2017 (US$millions) |
| Revenue | ¥722,183 | ¥591,995 | 22.0% | $6,796 |
| Gross profit | ¥167,438 | ¥142,806 | 17.2% | $1,576 |
| Gross margin | 23.2% | 24.1% | ||
| Net profit | ¥7,425 | ¥19,080 | -61.1% | $70 |
Net profit fell for the year. The company reported an impairment charge related to its “an” brand of ¥8.62 billion (US$81 million).
Looking at the company’s segments, PersolKelly revenue rose 77.3% as the scope of the venture increased, and revenue was up 9.2% in its largest segment, “temporary staffing/business process outsourcing.”
Persol’s Programmed segment includes Programmed Maintenance Services Ltd., an Australian staffing provider it acquired in October 2017.
Revenue by segment
| (¥millions) | FY 2017 | FY 2016 | % change | FY 2017 (US$millions) |
| Temp. Staffing/BPO | ¥481,071 | ¥440,678 | 9.2% | $4,527 |
| Recruiting (perm. placement) | ¥72,841 | ¥66,134 | 10.1% | $685 |
| Programmed | ¥54,512 | - | $513 | |
| PersolKelly | ¥65,774 | ¥37,108 | 77.3% | $619 |
| IT Outsourcing | ¥28,988 | ¥26,646 | 8.8% | $273 |
| Engineering | ¥27,795 | ¥26,668 | 4.2% | $262 |
Guidance
Persol forecast revenue to rise 30.2% for its next fiscal year ending March 31, 2019.
Share price and market cap
Shares in Persol closed up 3.55% today to ¥2,799. The company had a market cap of ¥662.46 billion (US$6.02 billion)