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Japan – Fullcast holdings profits and revenue plummet

09 August 2013

Japanese recruitment company Fullcast Holdings Ltd. (4848: JP) reported revenues for the half year ending 30 June 2013 of JPY 8.15 billion (USD 84.5 million), down by nearly half from JPY 16.3 billion (USD 169.1 million) for the same period last year.

An operating loss of JPY 27 million (USD 280,064) was reported, with no comparable figure provided for the second half of 2012. Pre-tax profit dropped during the period to JPY 94 million (USD 975,000) from JPY 1.02 billion (USD 10.6 million) in H1 2012. Net profit also fell during the period, to JPY 129 million (USD 1.3 million) from JPY 928 million (USD 9.6 million) a year ago.

Fullcast Group offers a variety of services in the “short-term operational support business and security businesses”. Aside from the Fullcast brand, the company operates under the brands Top Spot Co Ltd and Otetsudai Networks Inc.

The company released a forecast for the full year ending 31 December 2013 predicting that revenue will reach JPY 20.7 billion (USD 214.7 million), with operating profit of JPY 765 million (USD 7.9 million). Pre-tax profit is expected to reach JPY 876 million (USD 9.1 million) with net profit of JPY 592 million (USD 6.1 million).

In trading today, the company’s share price dropped -2.04% to JPY 336 (USD 3.48), up +124.75% compared with a year ago. Based on its current share price the company has a market value of JPY 13.3 billion (USD 138 million).     

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