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View All NewsJapan – Hito Communications revenue slips 22% in H1, but profits climb
Japanese human resources provider Hito Communications (4433: JP) reported revenue today for the first six months ending 28 February 2022 of JPY 31.94 billion (USD 254.8 million), a fall of 22.2%.
| (JPY millions) | H1 2022 | H1 2021 | Change | H1 2022 (USD millions) |
| Revenue | 31,944 | 41,060 | -22.2% | 254.8 |
| Gross Profit | 7,787 | 7,178 | 8.5% | 62.1 |
| Gross Margin | 24.3% | 17.5% | - | - |
| Operating Profit | 3,337 | 2,508 | 33.1% | 26.6 |
| Net Income | 1,941 | 1,520 | 27.7% | 15.4 |
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’s performance was driven by work related to measures against the spread of Covid-19 pandemic. Hito added that its sales-related sales support sector, in the communication mobile field, was negatively impacted by the downsizing and unstable production system in China.
Looking ahead, Hito forecasted revenue of JPY 60.50 billion (USD 482.62 million) for the year ended 31 August 2022.
Shares in Hito Communications closed at JPY 1,750.00 (USD 13.96), down 1.74% on the day and 17.61% above the 52-week low of JPY 1,488.00 (USD 11.87) set on 15 March 2022. The company has a market cap of JPY 31.88 billion (USD 254.31 million).