Daily News
View All NewsJapan – New sales up nearly 6% at staffing firm SMS
SMS Co. Ltd. (2175:TYO), a recruitment firm specialising in the elder and medical care fields, reported Thursday that net sales rose 5.7% in the first half of its fiscal year that ended 30 September. Profit jumped by 19.6% at the Tokyo-based company that ranks as the 31st-largest staffing firm in Japan.
Still, SMS reported that Covid-19 negatively affected second-quarter sales.
The company has operations in Japan and several other Asian countries, as well as Australia, New Zealand and Ireland.
(JPY millions) | Six months to Sept. 30, 2020 | Six months to Sept. 30, 2019 | % change | Six months to Sept. 30, 2020 (USD millions) |
Net sales | 18,638 | 17,628 | 5.7% | 177 |
Gross profit | 16,806 | 15,824 | 6.2% | 159 |
Operating profit | 2,949 | 2,074 | ||
Profit | 2,775 | 2,319 | 19.6% | 26 |
SMS noted that profits rose mainly because of a reduction in the number of new hires.
Guidance
SMS forecast full-year revenue for the year ending 31 March will be up 6.5%.
Share price and market cap
Shares in SMS closed at JPY 3,070 (USD 29.39) on Friday, 9.71% below their 52-week high; the company had a market cap of JPY 259.53 billion (USD 2.48 billion).