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Japan – Worldintec reports Q3 growth

07 November 2013

Japanese outsourcing services company Worldintec Co. Ltd. (2429: JP) reported revenue for the nine months ending 30 September 2013 of JPY 41.6 billion (USD 421.9 million), an increase of +3.1% compared with JPY 40.3 billion (USD 408.7 million) last year.

The company reported an operating income of JPY 1.5 billion (USD 15.2 million), equating to year-on-year growth of +45.4% compared with an operating income of JPY 1.1 billion (USD 11.2 million) last year. Worldintec reported a pre-tax profit for the nine months in 2013 of JPY 1.54 billion (USD 15.6 million), up by +46.2% from JPY 1.05 billion (USD 10.6 million) last year.

Net profit for the period rose by +4.6% to JPY 670 million (USD 6.8 million) from JPY 640 million (USD 6.5 million) for the nine months ending 30 September 2012.

The company expects to report revenue for the year ending 31 December 2013 of JPY 56.49 billion (USD 572.9 million), equating to year-on-year growth of +6.6%. The company also predicts that they will achieve an operating profit of JPY 1.85 billion (USD 18.8 million), year-on-year growth of +51.4%, and they will achieve a pre-tax profit of JPY 1.8 billion (USD 18.25 million), year-on-year growth of +39%. Worldintec Corp anticipates that it will achieve a net income for the 12 months of JPY 712 million (USD 7.2 million), a rise of +8.3% compared with net income achieved in 2012. 

Worldintec is mainly engaged in the operation of human resource and education business, information communication business and real estate business. The Factory segment mainly provides contract and temporary placement services to a range of manufacturing industries. The Technology segment provides contract and temporary placement services to the design, development and maintenance of machinery and electric equipment. The Research and Development (R&D) segment provides temporary placement and clinical test services. The Information Communication segment distributes mobile phones, office automation (OA) equipment and business phones, and operates call center business. The Real Estate segment involves in the development, distribution, management and agent sale of residential properties, and the provision of real estate consulting services. The ‘Others’ segment provides temporary staffing, component procurement, human resources development, and employment support services.

In trading today, the company’s share price rose by +0.9% to JPY 655 (USD 6.65), an increase of +123% compared with a year ago. Based on its current share price, the company has a market value of JPY 11 billion (USD 111.6 million). 

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