Meitec Corp. (9744:TYO), a Tokyo-based provider of engineering staffing, reported revenue rose 12.4% in the first nine months of its fiscal year compared to the same time period in the previous fiscal year to a total of JPY 88.7 billion (USD 672 million).

The first nine months ended on 31 December, while Meitec’s full fiscal year ends 1 April.

Meitec reported a moderate recovery in business conditions during the first nine months as the impact of Covid-19 eased. Still, it noted the economic outlook remained uncertain with increases in the price of resources, macroeconomic issues and other factors.

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Guidance

Meitec forecast full-year net sales will be up 11.5% with operating profit to rise 23.3%.

Share price and market cap

Shares in Meitec closed down 9.21% to JPY 2,435 (USD 18.71) in Tokyo on Tuesday; they were 9.21% below their 52-week high, according to FT.com. The company had a market cap of JPY 207.29 billion (USD 1.59 billion).