Japan-based staffing firm Fullcast Holdings (4848: JP) reported revenue today of JPY 47.3 billion (USD 338.2 million) for the nine months ending 30 September 2022, a 24.1% increase compared to last year.

“Consolidated net sales increased as we were able to acquire projects that exceeded the short-term demand for human resources before the pandemic, even as the Covid-19 crisis continued,” the group stated. “This was mainly due to growth in the short-term business support business due to the continued acquisition of government projects related to Covid-19-related business.”

Operating profit increased mainly due to continued growth in customer demand and an increase in sales in the short-term support business.

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.

Looking ahead the company forecasted revenue of JPY 62.50 billion (USD 447.33 million) for the year ended 31 December 2022.

Fullcast Holdings shares closed at JPY 2,968.00 (USD 21.24), up 1.57% on the day and 7.97% below its 52-week high of JPY 3,225.00 (USD 23.08), set on 17 November 2021. The company has a market cap of JPY 109.54 billion (USD 783.90 million).