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Japan – Human Holdings reports fallen profit

14 November 2013

Japanese staffing firm Human Holdings (2415: JP) reported revenue of JPY 27.5 billion (USD 276.4 million) for the six months ending 30 September 2013, an increase of +7.2% compared with JPY 25.7 billion (USD 258.3 million) last year. 

The company does not operate solely as a staffing business, but its recruitment operation is one of its core divisions. The firm offers temporary staffing services and specialises in the recruitment of engineering and technical staff.

Revenue from the company’s recruitment operations increased by +2.9% to JPY 15 billion (USD 150.8 million) during the period compared with JPY 14.6 billion (USD 146.7 million) last year.  

Despite reporting improved revenue, the company’s net profit for the period fell, year-on-year, by -33.6% to JPY 487 million (USD 4.9 million), down from JPY 734 million (USD 7.4 million) in 2012. Pre-tax profit for the period also reported a sharp drop of -25.5%, falling to JPY 552 million (USD 5.2 million) from JPY 742 million (USD 7.5 million) last year.

Human Holdings achieved a net income of JPY 364 million (USD 3.7 million) for the six month period, equating to a year-on-year fall of -20.7% from a net income of JPY 459 million (USD 4.6 million) in 2012.

The company released a revenue forecast for the year ending in March 2014. Human Holdings expects revenue for its 2013/2014 fiscal year to reach JPY 57.5 billion (USD 577.9 million). Net profit is projected to achieve growth of +21.8% compared with last year reaching JPY 1 billion (USD 10.1 million).

In trading today, the company’s share price rose by +4.2% to JPY 698 (USD 7.02), an increase of +50.1% compared with a year ago. Based on its share price, the company has a current market value of JPY 7.7 billion (USD 77.4 million).  

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