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Japan-based recruitment firm JAC Recruitment (2124: JP) reported revenue of JPY 3.55 billion (USD 36.59 million), for the first half of the year ending 30 June 2013, increased by +20% from JPY 2.95 billion (USD 30.4 million) for the previous six months ending December 2012.
Operating profit for the period was reported at JPY 957 million (USD 9.86 million), up +55% from JPY 618 million (USD 6.36 million) in the previous half year. Pre-tax profit, is also reported as JPY 957 (USD 9.86 million), a fall from JPY 623 million (USD 6.42) for the period ending December 2012.
Net profit more than doubled, from JPY 267 million (USD 2.75 million) in the first half of 2012, to JPY 554 million (USD 5.71 million) from reported net profit in December 2012.
JAC Recruitment predicts that revenue will be JPY 7.35 billion (USD 75.7 million) for the full year ending 30 December 2013. Operating profit and pre-tax profit are expected to reach JPY 1.83 billion (USD 18.9 million), with net profit hitting JPY 1.06 billion (USD 10.9 million) by the end of the year.
JAC Recruitment was originally founded in London as a recruitment consultancy for Japanese companies setting up businesses in the UK. Offices have since opened in Tokyo and Singapore. The company is engaged in the recruitment and registration of job seekers, also providing consulting services. The group also specialises in staffing services for overseas job seekers to join local companies, as well as a domestic recruitment service.
Despite the strong growth, the company’s share price fell today by -3.89% to JPY 4,075 (USD 42.27), an increase of +284.55% compared with a year ago. Based on its current share price, the company has a market value of JPY 28 billion (USD 290 million).