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Japanese temporary recruitment and outsourcing company P & P Holdings Corp., (6068: JP) reported revenue for the six months ending 30 September 2013 of JPY 12.3 billion (USD 124.7 million), an increase of +8.4% compared with JPY 11.4 billion (USD 115.6 million) last year.
On 1 March 2013, the company took over part of an administration business from a subsidiary namely P&P Corporation. On 2 October 2013, it fully acquired an unnamed Tokyo-based company.
The company reported that gross profit remained static, year-on-year, at JPY 2.03 billion (USD 20.6 million). The operating income for the six month period fell by -24% to JPY 168 million (USD 1.7 million) from JPY 221 million (USD 2.2 million). Pre-tax profit for the period also declined, falling by -25.3% to JPY 167 million (USD 1.7 million) from JPY 224 million (USD 2.3 million).
P & P Holdings Corp., reported a -55.8% drop in net income to JPY 51 million (USD 517,215) from JPY 117 million (USD 1.2 million), year-on-year.
P & P Holdings is engaged in the outsourcing and temporary staffing business. The Outsourcing concerns the provision of outsourcing services to the sales process activities for manufacturers and operators of digital information home electronics, mobile communications devices, health appliances, foods and cosmetics, among others, as well as the provision of inventory clearance services for distributors and retailers. The Temporary Staffing segment is engaged in the dispatching of digital information home electronics and mobile communications devices salespersons, fresh technical experts and other professional engineers, as well as the provision of temporary staffing services for general business and call centres.
In trading today, the company’s share price rose slightly by +0.3% to JPY 311 (USD 3.15), an increase of +57.9% compared with a year ago. Based on its share price, the company has a current market value of JPY 3.4 billion (USD 34.5 million).