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View All NewsWorld Holdings first quarter revenue up but profits fall
Japanese outsourcing services company World Holdings (2429: JP) reported revenue today for the first quarter ended 31 March 2024 of JPY 54.82 billion (USD 352.0 million), an increase of 25.4% compared to the previous year.
| (JPY millions) | Q1 2024 | Q1 2023 | Change | Q1 2024 (USD millions) |
| Revenue | 54,821 | 43,724 | 25.4% | 352.0 |
| Gross Profit | 7,672 | 7,776 | -1.3% | 49.2 |
| Gross Margin | 13.9% | 17.8% | - | - |
| Operating Profit | 636 | 1,934 | -67.1% | 4.1 |
| Net Income | -121 | 963 | 94.0% | -0.7 |
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.
Revenue in the Service HR business saw a 76.0% increase. Revenue in the real estate business reported a 10.5% increase compared to the same period last year. At the same time, the information and communication business saw a 3.6% increase compared to the same period of the previous year. Revenue in the agricultural park business saw an uptick of 13.1%.
In its forecast, the group expects revenue of JPY 252.08 billion (USD 1.62 billion) for the year ended 31 December 2024.
World Holdings shares closed at JPY 2,388.00 (USD 15.34), down 0.71% on the day and 7.23% above its 52-week low of JPY 2,227.00 (USD 14.30), set on 24 October 2023. The company has a market cap of JPY 42.58 billion (USD 273.44 million).