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View All NewsJapan – Gig Works revenue rises 7% in full fiscal year, gross margin narrows
Gig Works Inc. (2375:TYO), which ranks as the 32nd-largest staffing firm in Japan according to SIA research, announced Tuesday that sales rose 7.1% in its fiscal year ended 31 October 2021.
Gross margin narrowed while net income declined.
The Tokyo-based company provides on-demand staffing of engineers, construction workers and others. It also operates in the sharing economy by developing co-working spaces among other things.
Gig Works forecast revenue for the full fiscal year ending 31 October 2022 would increase by 13.4% to JPY 24.0 billion (USD 211.9 million).
(JPY thousands) | FY ended 31 Oct. 2021 | FY ended 31 Oct. 2020 | % change | FY ended 31 Oct. 2021 (USD thousands) |
Sales | 21,169,041 | 19,770,958 | 7.1% | 185,652 |
Gross profit | 4,884,613 | 4,805,437 | 1.6% | 42,838 |
Gross margin | 23.1% | 24.3% | ||
Net income | 434,518 | 657,067 | -33.9% | 3,811 |
Share price and market cap
Gig Works shares closed up 5.53% to JPY 553.00 (USD 4.88) on Tuesday in Tokyo; the company had a market cap of JPY 11.47 billion (USD 101.3 million), according to FT.com. Shares were 10.16% above their 52-week low.