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View All NewsJapan – World Holdings first quarter revenue down 9.5%
Japanese outsourcing services company World Holdings (2429: JP) reported revenue for the first quarter ended 31 March 2021 of JPY 33.03 billion (USD 303.6 billion), a fall of 9.5% compared to the previous year.
| (JPY millions) | Q1 2021 | Q1 2020 | Change | Q1 2021 (USD millions) |
| Revenue | 33,032 | 36,480 | -9.5% | 303.6 |
| Gross Profit | 5,969 | 6,017 | -0.8% | 54.8 |
| Gross Margin | 18.0% | 16.5% | ||
| Operating Profit | 1,682 | 1,358 | 23.8% | 15.4 |
| Net Income | 1,324 | 1,640 | -19.3% | 12.1 |
World Holdings Co Ltd. provides outsourcing services in the manufacturing sector operating under the World Intec brand. The company also offers personnel staffing services for engineering and short-term positions.
The group said that overall both sales and profits of the group progressed more than expected despite the decrease in revenue. Operating income was higher during the Q1 2021 period when compared to the same period the year prior.
Looking ahead the company forecasted revenue of JPY 105.19 billion (USD 967.05 million) for the full year ended 31 December 2021.
Shares in World Holdings closed at JPY 2,714.00 (USD 24.95), down 0.59% on the day and 13.29% below its 52-week high of JPY 3,130.00 (USD 28.78), set on 16 April 2021. The company has a market cap of JPY 47.96 billion (USD 440.93 million).