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Japanese staffing company JTech Corp. (2479: JP) reported revenue for the first six months of the year ending 30 September 2013 of JPY 1.67 billion (USD 17 million), an increase of +53.1% compared with revenue of JPY 1.09 billion (USD 11.1 million).
The company more than trebled operating profit during the period to JPY 35 million (USD 355,850) from JPY 11 million (USD 111,840) last year. Pre-tax profit for the period rose by +186.4% to JPY 35 million (USD 355,850) from JPY 12 million (USD 122,005) a year ago.
Net profit for the first half of the year increased by +180.9% to JPY 22 million (USD 223,680) from JPY 8 million (USD 81,335) last year.
In October 2012 the company acquired an engineering dispatch business so the strong growth is not purely organic.
Looking forward, the company expects to report full-year revenue of JPY 3.19 billion (USD 32.4 million) for the period ending 31 March 2014. J-Tec have forecast that they will achieve an operating profit of JPY 77 million (USD 782,875) and a pre-tax profit of JPY 78 million (USD 793,040). Net profit for the period is expected to reach JPY 49 million (USD 498,190).
J-Tec Corporation is a principally engaged in the technical staff outsourcing business. The company operates in two business segments. The Technology Career and Intellectual Property Leasing segment is involved in the dispatching of professional technologists, in machinery design, electrical and electronics equipment design, as well as software development. The General Dispatching and Engineer Dispatching segment is engaged in the registration of potential candidates, as well as the selection and dispatch of the selected appropriate staff to clients. As of March 31, 2012, the Company had one consolidated subsidiary and 13 business offices.
In trading today, despite the strong growth the company’s share price closed down -3.95% at JPY 243 (USD 2.47), an increase of +248% compared with a year ago. Based on its current share price, the company has a market value of JPY 2.03 billion (USD 20.6 million).