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View All NewsWDB Holdings Q1 revenue rises 5.1% but reports drop in profits
WDB Holdings Co. Ltd (2475:TYO), a Japanese holding company that includes staffing firms, reported revenue today of JPY 12.4 billion (USD 87.3 million), a year-on-year increase of 5.1% in its first quarter ended 30 June 2023.
| (JPY millions) | Q1 2023 | Q1 2022 | Change | Q1 2023 (USD millions) |
| Revenue | 12,469 | 11,860 | 5.1% | 87.3 |
| Gross Profit | 2,955 | 3,063 | -3.5% | 20.7 |
| Gross Margin | 23.7% | 25.8% | - | - |
| Operating Profit | 1,288 | 1,428 | -9.8% | 9.0 |
| Net Income | 626 | 892 | -29.9% | 4.4 |
WDB Holdings provides four core services primarily in the life sciences segment: human resource services (permanent placement and temporary dispatch), outsourced research services (CRO), R&D/manufacturing, and ‘interaction’ services (M&A and research).
In the human resource service business, revenue rose by 4.9% but the segment reported a decline in operating profit of 19.2%. The main reason for the decrease in profits was an increase in cost of sales associated with the increase in pay for temporary staff.
In the CRO segment, revenue rose by 6.6%), while the segment reported an operating profit increase of 60.7%.
Looking ahead, the company forecasted revenue of JPY 51.00 billion (USD 357.16 million) for the year ended 31 March 2024.
WDB Holdings shares closed at JPY 2,074.00 (USD 14.52), up 1.17% on the day and 9.04% above its 52-week low of JPY 1,902.00 (USD 13.32), set on 16 March 2023. The company has a market cap of JPY 41.12 billion (USD 287.97 million).