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Japan – Creek & River reports revenue and profit growth

11 October 2013

Employment agency Creek & River Co Ltd (4763: JP) reported revenue of JPY 10.5 billion (USD 107.3 million) for the six months to 31 August, an increase of +23% compared with JPY 8.5 billion (USD 86.9 million) for the same period a year ago. 

Net profit for the period increased by +81.7% to JPY 330 million (USD 3.4 million) from JPY 181 million (USD 1.85 million) during the first half of 2012. The company reported an operating profit of JPY 742 million (USD 7.58 million), an increase of +23.1% compared with JPY 603 million (USD 6.16 million) last year. The company’s pre-tax profit increased by +23.1% to JPY 743 million (USD 7.59 million) from JPY 603 million (USD 6.16 million) last year.

Creek & River Co is an agency which matches freelance or short-term self-employed individuals with firms seeking to outsource certain jobs. The Company operates mainly in the film/TV related, game programming, and advertising industries. Creek & River also offers a variety of courses including website design, digital content creation, and desk top publishing.

Looking forward, the company expects to report revenue of JPY 17.53 billion (USD 179.2 million) for the full year ending 28 February 2014. Creek & River predict that their net profit will reach JPY 334 million (USD 3.4 million), and they will have an operating profit of JPY 992 million (USD 10.1 million). Pre-tax profit for the period is expected to reach JPY 10.4 billion (USD 106.3 million).

In trading today, the company’s share price rose by +0.5% to JPY 402 (USD 4.11), an increase of +42.5% compared with a year ago. Based on its share price, the company has a current market value of JPY 9.09 billion (USD 92.9 million).  

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