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View All NewsJapan – WDB Holdings reports revenue and profit growth in first half
WDB Holdings Co. Ltd (2475:TYO), a holding company that includes staffing firms, reported revenue rose 7.6% in the first six months ended 30 September 2021 to JPY 23.23 billion (USD 204.0 million).
| (JPY millions) | H1 2021 | H1 2020 | Change | H1 2021 (USD millions) |
| Revenue | 23,235 | 21,592 | 7.6% | 204.0 |
| Operating Profit | 3,270 | 2,529 | 29.3% | 28.7 |
| Gross Profit | 6,306 | 5,640 | 11.8% | 55.3 |
| Gross Margin | 27.1% | 26.1% | - | - |
| Net Income | 2,038 | 1,648 | 23.7% | 17.9 |
The group saw a recovery in new orders and the number of operating staff has increased which led to revenue growth. Gross profit margin improved because the utilisation rate of dispatchedstaff recovered. Profit increased significantly due to streamlining operations and the reduction of SG&A expenses.
WDB Holdings provides four core services primarily in the clinical/scientific sector: human resource services (permanent placement and temporary dispatch), contract research organisation (CRO), R&D/manufacturing, and ‘interaction’ services (M&A and research).
The HR segment reported revenue growth of 4.6% while the CRO segment reported revenue growth of 34.3%.
Looking ahead the company forecasted revenue of JPY 46.60 billion (USD 409.30 million) for the full year ended March 2022.
Shares in WDB Holdings closed at JPY 3,705.00 (USD 32.55), no change on the day and 1.85% below its 52-week high of JPY 3,775.00 (USD 33.16), set on 15 September 2021. The company has a market cap of JPY 74.32 billion (USD 652.87 million).