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Japan-based staffing business S-Pool (2471:HS) reported on Friday that revenue in the three months to February fell -3% to JPY 1.21 billion (USD 12.4 million) from JPY 1.25 billion (USD 12.8 million) a year ago. The firm said this was mainly due to a lack of bigger projects.
Operating profit in the quarter remained unchanged at JPY 1.0 million (USD 10,200). The company said it focused on improving profitability in the quarter. But the firm still reported a net loss of JPY 3 million (USD 30,700) in the quarter, compared to a net loss of JPY 4 million (USD 41,000) at the same time in the prior year.
S-Pool said that demand for temporary staffing services in Japan remained high although it added that the job market in the country remained tight. Employers also continue to show concern over global economic conditions, especially in Europe, the firm said.
Looking ahead, the company expects revenue for the year ended November 2013 to amount to JPY 5.26 billion (USD 53.88 million) with a projected net profit of JPY 50.0 million (USD 0.5 million).
S-Pool offers contracting, outsourcing and human resource solutions, which includes the provision of temporary staffing services. The firm was founded in 1999 and is headquartered in Tokyo.
In today’s trading, the company’s share price improved by +1.4% to JPY 283. Based on its stock price, the firm has a market value of JPY 731.1 million (USD 7.5 million).