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Recruitment and human resource services company WDB Resources (2475: JP) reported revenue for the six months ending 30 September 2013 of JPY 12.37 billion (USD 125.4 million), a rise of +4% compared with JPY 11.9 billion (USD 120.6 million) last year.
The company reported an operating profit of JPY 838 million (USD 8.5 million), a fall of -18.6% compared with an operating profit of JPY 1.02 billion (USD 10.3 million) last year. Pre-tax profit for H1 2013 was JPY 846 million (USD 8.6 million), down by -18.6% from JPY 1.04 billion (USD 10.5 million) in H1 2012.
WDB Holdings achieved a net income of JPY 413 million (USD 4.2 million) for the six month period, a fall of -15.9% compared with JPY 491 million (USD 4.97 million) in net income last year.
WDB Holdings is a company mainly engaged in the manpower dispatching business, with its HR Service segment providing employees for various positions; such as clerical, research, and older worker administrative positions.
The company released an amended earnings forecast in early September, downgrading its results for the six month period. In their current financial statement the company attributes the negative impact on their results to the introduction of the Worker Dispatch Law and the ongoing tightness in the global economy.
In trading today, the company’s share price fell by -1% to JPY 1,190 (USD 12.06), an increase of +55.6% compared with a year ago. Based on its current share price, the company has a market value of JPY 11.9 billion (USD 120.6 million).