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Japanese technical recruiter Trust Tech Inc. (2154:JA) has released a new earnings forecast on Friday with the firm downgrading its financial performance. The firm specialises in staffing, outsourcing and contracting services across the engineering and manufacturing sectors.
It now expects revenue for the year ended June 2013 to reach JPY 15 billion (USD 152.31 million). This is down from a previous forecast of JPY 18.20 billion (USD 184.81 million), a reduction of nearly -18%. The company also expects to make an operating profit of JPY 720 million (USD 7.31 million) this year, compared to the previous forecast of JPY 920 million (USD 9.34 million), with Trust Tech downgrading its operating profit by -22%.
Elsewhere profits are also to be below previous estimates with the firm now forecasting a pre-tax profit of JPY 800.00 million (USD 8.12 million), down from a previously expected JPY 950.00 million (USD 9.64 million). Overall, the company expects net profit to reach JPY 463 million (USD 4.70 million), -17% below former estimates.
Trust Tech was founded in 1959 and, with a wide network of offices in Japan, the firm specialises in offering staffing and subcontracting-related services in the technological sector.