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View All NewsJapan – GiG Works revenue rises 22% in first nine months of fiscal year
GiG Works Inc. (2375:TYO) reported revenue rose 21.5% year over year in the first nine months of its fiscal year. The first nine months of the fiscal year ended 31 July while the full fiscal year ends 1 November. The Tokyo-based company provides on-demand staffing of engineers, construction workers and others, according to FT.com. It also operates in the sharing economy by developing co-working spaces among other things.
(JPY thousands) | First nine months FY 2021 | First nine months FY 2020 | % change | First nine months FY 2021 (USD thousands) |
Revenue | 16,283,112 | 13,403,615 | 21.5% | 148,502 |
Gross profit | 3,893,683 | 3,199,093 | 21.7% | |
Gross margin | 23.9% | 23.9% | ||
Net income | 379,143 | 323,098 | 17.3% | 3,458 |
Gross margin held steady in the first nine months while net income rose 17.3%.
The company had changed its name to GiG Works from ThreePro in 2019.
Guidance
GiG Works forecast revenue for the full year ending 1 November 2021 to be JPY 24.00 billion (USD 218. 3 million), a year-over-year increase of 21.4%
Share price and market cap
Shares in GiG Works closed down 12.41% on Monday to JPY 621 (USD 5.64); the company over the last year had traded in a range between JPY 472 and JPY 1,200. the company had a market cap of JPY 15.51 billion (USD 141.1 million).