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View All NewsJTec Corp Q1 revenue up 3.8% despite fall in dispatching revenue
Japanese staffing company JTec Corp. (2479: JP) reported revenue for the first quarter ended 30 June 2023 of JPY 812 million (USD 5.7 million), an increase of 3.8% compared with last year.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 812 | 782 | 3.8% | 5.7 |
| Operating Profit | 31 | 25 | 24.7% | 0.2 |
| Gross Profit | 241 | 223 | 7.8% | 1.7 |
| Gross Margin | 29.6% | 28.5% | - | - |
| Net Income | 17 | 10 | 71.7% | 0.1 |
JTec Corp offers outsourcing for technical personnel especially in technology, providing mechanical, electronic, and software engineering technicians. JTec also offers electric and electronic design, and software development on a contract basis.
The group saw revenue increase in its technician intellectual property leasing business by 3.9%.
In the general dispatch and engineering dispatch business, revenue was down 6.0% over the year. The group noted some operations continued to be suspended during the period.
Looking ahead the company forecasted revenue of JPY 3.75 billion (USD 26.36 million) for the year ended 31 March 2023.
JTec Corp shares closed at JPY 335.00 (USD 2.36), up 0.60% on the day and 7.97% below its 52-week high of JPY 364.00 (USD 2.56), set on 24 July 2023. The company has a market cap of JPY 2.85 billion (USD 20.03 million).