Japan-based staffing firm Fullcast Holdings (4848: JP) reported revenue today of JPY 17.13 billion (USD 110.0 million) for the first quarter ended 31 March 2024, a 7.3% uptick compared to last year.

Due to the transfer of all shares of BOD Co., Ltd., which provides services such as data entry and order management outsourcing and was a consolidated subsidiary of the company, on 29 March 2024, the group and its subsidiaries will have been excluded from the scope of consolidation.

The group also announced it established the food and beverage business segment as a reporting segment which contributed to revenue growth.

While gross profit improved strongly, operating profit declined slightly.

Fullcast provides short-term human resources placement, payroll service outsourcing, and long-term human resources dispatching. In the short-term operational support business, the company supports the following sectors: distribution, warehouse work, relocation, manufacturing, catering, sales promotion, call centres, and offices.

Revenue in the short-term business support business was down 4.8%. The sales support business reported revenue growth of 23.9%. Revenue in the security and other businesses segment saw an increase of 3.0%.

Looking ahead, the group forecasted revenue of JPY 70.50 billion (USD 452.74 million) for the year ended 31 December 2024.

Fullcast shares closed at JPY 1,518.00 (USD 9.75), down 0.78% on the day and 12.36% above the 52 week low of JPY 1,351.00 (USD 8.68) set on 8 March 2024. The company has a market cap of JPY 57.35 billion (USD 368.3 million).