Forum Engineering H1 revenue and profits rise
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Forum Engineering Inc. (7088:TYO), a Tokyo-based staffing firm focused on mechanical and electrical engineers, reported on 8 November revenue of JPY 16.95 billion (USD 110.1 million) in its fiscal first six-month period ended 30 September 2024.
The company said the engineer talent market continues to suffer from a chronic shortage of talent. Demand for the Forum Engineering’s main engineer dispatch service has recovered to its pre-COVID strength.
(JPY millions) | H1 2024 | H1 2023 | Change | H1 2024 (USD millions) |
Revenue | 16,955 | 15,304 | 10.8% | 110.1 |
Gross Profit | 5,164 | 4,458 | 15.8% | 33.5 |
Gross Margin | 30.4% | 31.6% | - | - |
Operating Profit | 2,028 | 1,276 | 58.9% | 13.1 |
Net Profit | 1,378 | 856 | 61.1% | 8.9 |
Forum Engineering operates an engineer dispatch and introduction business.
Looking ahead, the company forecasted revenue of JPY 34.60 billion (USD 224.65 million) for the year ended 31 March 2025.
On 8 November, shares closed at JPY 899 (USD 5.84), up 1.12% on the day. The company has a market cap of JPY 51.55 billion (USD 334.7 million).
Tags: Japan, revenue, earnings, recruitment