Altech 9-month revenue ticks up 5.2%
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Japanese technical staffing firm Altech Corp (4641:JP) reported revenue on 12 November for the nine months ended 30 September 2024 of JPY 35.95 billion (USD 233.2 million), an increase of 5.2% when compared to the same period last year.
(JPY millions) | 9 months 2024 | 9 months 2023 | Change | 9 months 2024 (USD millions) |
Revenue | 35,954 | 34,186 | 5.2% | 233.2 |
Gross Profit | 8,300 | 7,933 | 4.6% | 53.8 |
Gross Margin | 23.1% | 23.2% | - | - |
Operating Profit | 3,586 | 3,542 | 1.2% | 23.2 |
Net Income | 2,362 | 2,537 | -6.9% | 15.3 |
Altech Corporation, together with its subsidiaries, provides professional staffing services in the technical sector, primarily in Japan. The company also provides total staffing solutions for the healthcare sector and operates and manages private residential homes with nursing care.
Revenue in the outsourcing services segment was up 6.9%. In the global business, the company designs, manufactures, installs, and maintains plant facilities, machinery, equipment, etc., and includes overseas, as well as human resources services. Revenue in this segment was down 17.1%.
Looking ahead, the company forecasted revenue of JPY 49.50 billion (USD 321.16 million) for the year ended 31 December 2024.
Altech shares closed at JPY 2,861.00 (USD 18.56), up 0.74% on the day and 4.57% below its 52-week high of JPY 2,998.00 (USD 19.45), set on 27 February 2024. The company has a market cap of JPY 61.76 billion (USD 400.63 million).