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Japan-based recruiter Gakujo Co. (2301:TYO) today reported that revenue in the three months to January fell to USD 6.0 million (JPY 584.00 million) from USD 7.1 million ( JPY 680.00 million) a year ago. But the firm, which provides career, recruitment and manpower dispatch services, saw profits rise in the quarter.
Operating profit in the period increased to JPY 48.00 million from JPY 32.00 million in the prior year. Net profit rose to USD 0.5 million (JPY 49.0 million) from USD 0.3 million (JPY 34.0 million).
The company also published a forecast for the full year to October 2013. It now projects to make revenue of USD 26.0 million (JPY 2.5 billion) for the period. Operating profit is expected to amount to USD 2.5 million (JPY 235.0 million) for the 12 months to October with the firm anticipating a net profit of USD 2.0 million (JPY 196.0 million).
In early trading, the company’s share price jumped by +10% to JPY 376, an increase of +45% from a year ago. Based on its stock price, the firm has a market value of USD 55.4 million (JPY 5.32 billion).
Gakujo offers career, recruitment, staffing and job placement services for graduates and those in their mid-careers.