Daily News
View All NewsArtner Q1 revenue and profits up, demand for engineers recovers
Japanese recruitment firm Artner Co Ltd (2163: JP) yesterday reported revenue for the first quarter ended 30 April 2023 of JPY 2.49 billion (USD 17.9 million), an increase of 11.7% compared to the same period last year.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 2,493 | 2,232 | 11.7% | 17.9 |
| Gross Profit | 965 | 845 | 14.2% | 6.9 |
| Gross Margin | 38.7% | 37.8% | - | - |
| Operating Profit | 477 | 378 | 26.4% | 3.4 |
| Net Income | 333 | 263 | 26.5% | 2.4 |
Artner provides employment recruitment services across Japan, offering permanent, temporary and contract staffing services. In addition, Artner also provides mechanical design, electrical and electronic design , software, and chemical and bio-based research and development services.
The company reported an increase in the number of engineers during the period and said demand for engineers recovered. At the same time, labour costs decreased due to a year-on-year decrease in the number of new graduate engineers joining the company in April.
Looking ahead, the company forecasts revenue of JPY 9.79 billion (USD 70.3 million) for the year ended 31 January 2024.
Artner shares closed yesterday at JPY 1,523 (USD 10.94), down 0.26% on the day. The company has a market cap of JPY 17.91 billion (USD 128.6 million).