UT Group Go. Ltd. (2146:TYO), a Tokyo-based engineering and technical staffing firm, on 6 February reported revenue rose 12.4% year over year in the first nine months of fiscal year 2023, which ran from 1 April 2021 through 31 December 2022.

Gross margin improved, and the company reported record high quarterly EBITDA at JPY 12,082 million (USD 91.6 million) compared to JPY 5,372 million the same period last year.

In its manufacturing segment, the company said hiring has been cautious in the industrial and commercial machinery and electronics subsegments. Still, UT Group’s manufacturing revenue was up 89.3% year over to JPY 8,697 million.

UT Group reported the number of technical employees rose by 6,471 year over year to 46,549.

Guidance

UT Group forecast sales for the full year ending 31 March will be up 14.8% year over year.

Share price and market cap

Shares in UT Group were down 3.25% to JPY 2,472 (USD 18.69) at close of market Tuesday in Tokyo; they were 26.70% above their 52-week low, according to FT.com. The company had a market cap of JPY 103.13 billion (USD 779.6 million).