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View All NewsJapan – Persol second quarter revenue climbs 15.3% with growth across the board
Japanese staffing giant Persol (2181: JP), reported revenue today for the second quarter ended 30 September 2022 of JPY 302.6 billion (USD 2.2 billion), an increase of 15.3% compared to the same period last year.
| (JPY millions) | Q2 2022 | Q2 2021 | Change | Q2 2022 (USD millions) |
| Revenue | 302,649 | 262,415 | 15.3% | 2,165.2 |
| Operating Profit | 14,221 | 13,474 | 4.7% | 101.7 |
| EBITDA | 19,992 | 18,121 | 6.6% | 142.9 |
| Net Income | 8,487 | 7,001 | 21.2% | 60.6 |
Q2 Revenue by segment
| (JPY millions) | Q2 2022 | Q2 2021 | Change | Q2 2022 (USD millions) |
| Staffing | 151,424 | 141,507 | 7.0% | 1,082.7 |
| Career | 24,872 | 17,339 | 43.4% | 177.8 |
| Professional Outsourcing | 32,912 | 29,526 | 11.5% | 235.3 |
| Solution | 3,764 | 2,773 | 35.7% | 26.9 |
| APAC | 93,622 | 74,198 | 26.2% | 669.4 |
| Other | 3,987 | 3,028 | 31.7% | 28.5 |
| Adjustment | ｰ7,933 | -5,958 | - | -56.7 |
Revenue for the six months ended 30 September 2022 stood at JPY 586.74 billion, up 14.4% over the year. Net sales increased in all Strategic Business Units (SBUs). Operating profit was up 16.1%, mainly reflecting an increase in the number of temporary active staff in the Staffing SBU and an increase in sales in Career SBU, driven by brisk corporate demand.
Revenue in the Staffing SBU was up 8.4% in the H1 period. Revenue increased because of strong results in terms of the number of active staff in the temporary staffing sector and demand in the BPO (business process outsourcing) sector.
Revenue increased by 40.4% in the Career SBU. Sales in the placement business and job recruitment media business increased due to strong corporate demand.
In Professional Outsourcing revenue increased by 11.0% over the year. Revenue increased because the engineering area saw growth in demand, mainly for development in the manufacturing industry.
Revenue in the Solution SBU increased by 46.6% over the year. Revenue increased due to the continued growth of the job search application business and cloud POS (point of sale) business, mainly reflecting the growth in companies’ demand for hiring and the effect of sales promotion activities.
Revenue in the APAC SBU jumped by 20.9%. Sales increased due to the effect of the stronger US dollar and Australian dollar in addition to the progress in the recovery from the impact of the spread of Covid-19 infection.
Looking ahead, the number of temporary active staff is expected to increase over the period until the end of the fiscal year. In Career SBU, which operates a placement business, demand from corporate customers is likely to remain strong.
Full-year revenue is expected to reach 1.21 trillion (USD 8.65 billion).
Persol Holdings shares closed at JPY 3,230.00 (USD 23.09), up 4.36% on the day and 12.35% below its 52-week high of JPY 3,685.00 (USD 26.34), set on 19 November 2021. The company has a market cap of JPY 732.60 billion (USD 5.23 billion).