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View All NewsHito Communications revenue ticks up slightly but profits report a decline
Japanese human resources provider Hito Communications (3654: JP) reported revenue today for the nine months ending 31 May 2023 of JPY 49.25 billion (USD 352.8 million), an increase of 1.9% when compared to the same period last year.
| JPY millions) | 9 months 2022 | 9 months 2021 | Change | 9 months 2022 (USD millions) |
| Revenue | 49,256 | 48,332 | 1.9% | 352.8 |
| Gross Profit | 10,930 | 11,611 | -5.8% | 84.7 |
| Gross Margin | 22.2% | 24.0% | - | - |
| Operating Income | 3,646 | 4,773 | -23.6% | 34.8 |
| Net Income | 2,026 | 2,723 | -25.6% | 19.8 |
Hito offers temporary staffing, business recruitment and outsourcing, business sales promotion, outsourced sales support, and employee training outsourcing services, as well as recruitment services for individual users in distribution and service sectors.
The group said contracts for work related to measures to combat the spread of Covid-19 have run its course, and sales related to this decreased year-on-year.
Earlier this month the group announced that it had acquired FMG Group (Flight Management Group), a company focused on aircraft maintenance, airport ground handling and passenger services, based in Japan.
Looking ahead the company has a market cap of JPY 59.00 billion for the year ended 31 August 2023.
Hito Communications Holdings shares closed today at JPY 1,525.00, up 2.42% on the day and 5.76% above its 52-week low of JPY 1,442.00, set on 6 January 2023. The company has a market cap of JPY 26.65 billion.