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Japan – Fullcast Holdings sees tough trading

13 May 2013

Fullcast Holdings Co Ltd (4848:TYO), the Tokyo based listed staffing firm, which comes 56th in Staffing Industry Analysts ranking of listed staffing firms by market cap, released its first-quarter results on Friday.

In the three months to March, revenue dropped sharply to USD 39.44 million (JPY 4.01 billion) from USD 83.41 million (JPY 8.48 billion) a year ago. The firm reported an operating loss of USD 0.4 million (41 million), compared to an operating profit of USD 4.6 million (JPY 470 million) in the prior year.

The recruiter also posted a loss before tax of USD 0.15 million (JPY 16 million) while the firm last year posted a profit of USD 4.67 million (JPY 475 million). Net profit plummeted to USD 0.43 million (JPY 44 million) from USD 4.45 million (JPY 453 million) at the same time a year ago.

The company now expects to make full-year revenues of USD 203.2 million (JPY 20.66 billion).

Fullcast operates in two business segments. The Short-term Business Support segment is engaged in the provision of short-term and events-related human resource services. The Security segment is engaged in the security guard business for public facilities and general corporations.

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