Open Up Group H1 reports broad-based growth, revenue up 18.8%
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Japanese technical staffing firm Open Up Group (2154: JP) reported revenue of JPY 101.03 billion (USD 664.5 million) for the six months ended 31 December 2024, an increase of 18.8% over the prior year period.
(JPY millions) | H1 2024 | H1 2023 | Change | H1 2024 (USD millions) |
Revenue | 101,037 | 85,053 | 18.8% | 664.5 |
Gross Profit | 24,757 | 20,515 | 20.6% | 162.8 |
Gross Margin | 24.5% | 24.1% | - | - |
Operating Income | 8,970 | 7,911 | 13.4% | 58.9 |
Profit before Tax | 8,944 | 7,868 | 13.7% | 58.8 |
Profit attributable to owners of parent | 5,884 | 5,351 | 10.0% | 38.7 |
The machinery and IT field includes a temporary staffing, contracting and outsourcing business for the development, design and operation and maintenance in the fields of IT and machinery and electrical equipment. Revenue in this segment was up 14.4%.
In the construction segment, revenue was up 28.2%.
The group’s overseas segment includes human resources services such as temporary staffing and contracting in the technical and manufacturing fields outside Japan, and paid job placement. Revenue was up 18.3%. The others business includes online programming learning services and recruitment services. Revenue was up 23%.
Looking ahead the company forecasted revenue of JPY 193.0 billion (USD 1.27 billion) for the year ended 30 June 2025.
Open Up Group shares closed on 7 February at JPY 1,795.00 (USD 11.81), down 0.11% on the day and 13.04% above the 52-week low of JPY 1,588.00 (USD 10.44) set on 5 August 2024. The company has a market cap of JPY 164.96 billion (USD 1.08 billion).