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JTec Corp Q1 revenue up slightly while profits climb

JTec Corp Q1 revenue up slightly while profits climb

July 31, 2024

Main article

Japanese staffing company JTec Corp. (2479: JP) reported revenue today for the first quarter ended 30 June 2024 of JPY 819 million (USD 5.4 million), an increase of 0.9% compared with last year.

(JPY millions)

Q1 2024

Q1 2023

Change

Q1 2024 (USD millions)

Revenue

819

812

0.9%

5.4

Gross profit

279

241

15.8%

1.8

Gross margin

34.1%

29.7%

-

-

Operating profit

38

31

21.5%

0.2

Net profit

19

17

10.2%

0.1

JTec Corp offers outsourcing for technical personnel especially in technology, providing mechanical, electronic, and software engineering technicians. JTec also offers electric and electronic design, and software development on a contract basis.

Within the technical job intellectual property leasing business, revenue was up 1.8% over the same period a year ago.

Looking ahead the company forecasted revenue of JPY 3.75 billion (USD 24.9 million) for the year ended 31 March 2025.

On Wednesday, JTec Corp shares closed at JPY 259.00 (USD 1.72), up 1.97% on the day and 17.73% above the 52-week low of JPY 220.00 (USD 1.46) set on 1 November 2023. The company has a market cap of JPY 2.18 billion (USD 14.5 million).