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View All NewsPersol 9-month revenue climbs 7.2%, staffing segment up
Persol (2181: JP), the Japanese staffing firm, reported revenue today for the nine months ended 31 December 2023 of JPY 902.06 billion (USD 6.57 billion), an increase of 15.6% when compared to the previous period.
| (JPY millions) | 9 months 2023 | 9 months 2022 | Change | 9 months 2023 (USD millions) |
| Revenue | 990,627 | 924,042 | 7.2% | 6,577.2 |
| Gross Profit | 224,359 | 212,199 | 5.7% | 1,489.8 |
| Gross Margin | 22.6% | 22.9% | - | - |
| EBITDA | 62,753 | 65,516 | -4.2% | 416.7 |
| Operating Income | 40,921 | 42,955 | -4.7% | 271.7 |
| Profit attributable to owners of parent | 25,209 | 23,812 | 5.9% | 167.4 |
Revenue by segment
| (JPY millions) | 9 months 2023 | 9 months 2022 | Change | 9 months 2023 (USD millions) |
| Total Revenue | 990,627 | 924,042 | 7.2% | 6,577.2 |
| Staffing | 433,117 | 405,245 | 6.9% | 2,876.0 |
| BPO | 81,706 | 87,841 | -7.0% | 542.5 |
| Technology | 75,613 | 66,176 | 14.3% | 502.1 |
| Career | 94,296 | 75,066 | 25.6% | 626.1 |
| Asia Pacific | 308,363 | 290,749 | 6.1% | 2,047.6 |
| Others | 26,008 | 23,945 | 8.6% | 172.7 |
| Adjusted | -28,478 | -24,983 | - | -189.1 |
Revenue growth in the Staffing segment reflected an increase in the number of persons employed and a rise in average billing rates.
Within the Technology segment, despite strong results in both IT and engineering, the number of dispatched engineers decreased slightly over the year due to the impact of the allocation of resources for measures to increase the unit price.
Headcount in the Career segment rose year-on-year.
Within Asia Pacific, the group said that while the placement business was sluggish in some countries, temporary staffing remained strong in all countries. Revenue in PersolKelly increased by 11.4% over the year. Programmed also reported revenue growth of 3.8%.
Persol also announced it forecasted revenue of JPY 1.31 trillion (USD 8.72 billion) for the FY 2023 period.
Persol shares closed today at JPY 235.00 (USD 1.56), down 3.45% on the day but 12.66% above the 52-week low of JPY 208.60 (USD 1.39) set on 24 October 2023. The company has a market cap of JPY 554.55 billion (USD 3.68 billion).