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View All NewsJapan – World Holdings revenue and profits hit by the pandemic
Japanese outsourcing services company World Holdings (2429: JP) reported revenue for the nine months ended 30 September 2020 of JPY 98.68 billion (USD 952.8 million), a decrease of 3.2% compared to the previous year.
| (JPY millions) | 9 months 2020 | 9 months 2019 | Change | 9 months 2020 (USD millions) |
| Revenue | 98,682 | 101,964 | -3.2% | 952.8 |
| Operating Profit | 3,283 | 4,090 | -19.7% | 31.7 |
| Net Income | 3,010 | 2,659 | 13.2% | 29.0 |
The group said revenue and profits declined due to the impact of the coronavirus pandemic.
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 company forecasted revenue of JPY 142.5 billion (USD 1.37 billion) for the year ended December 2020.
Shares in World Holdings closed at JPY 2,266.00 (USD 21.87), up 0.58% on the day and 3.33% below its 52-week high of JPY 2,344.00 (USD 22.63), set on 22 October 2020. The company has a market cap of JPY 37.92 billion (USD 366.0 million).