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View All NewsJapan – Like Co first quarter rises 5.1% but profits slip due to costs
Japanese staffing firm Like Co Ltd (2462: JP) reported revenue for the first quarter ended 31 August 2022 of JPY 14.18 billion (USD 97.3 million), up 5.1% when compared to last year.
| (JPY millions) | Q1 2022 | Q1 2021 | Change | Q1 2022 (USD millions) |
| Revenue | 14,186 | 13,500 | 5.1% | 97.3 |
| Gross Profit | 1,983 | 2,153 | -7.8% | 13.6 |
| Gross Margin | 13.9% | 15.9% | - | - |
| Operating Income | 582 | 758 | -23.2% | 3.9 |
| Net Income | 330 | 631 | -47.7% | 2.2 |
The group said the decline in operating income was due to the cost of opening new facilities in the nursing care-related service business. The group added that this decline was also because there was no equipment subsidy income for nursery facilities during the current first quarter.
Like Co Ltd. provides general worker dispatching and employment placement services. The company also provides outsourcing staffing, recruitment, as well as childcare support services and nursing care related services.
Looking ahead the company forecasted revenue of JPY 61.60 billion (USD 422.63 million) for the year ended 31 May 2023.
Like Co shares closed at JPY 2,002 (USD 13.74), down 1.07% on the day. The company has a market cap of JPY 40.97 billion (USD 281.09 million).