TechnoPro revenue up in Q4 and fiscal year
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Engineering staffing firm TechnoPro Holdings (6028:TYO), the third-largest staffing provider in Japan, reported revenue rose in both its fiscal fourth quarter ended 30 June and its full fiscal year.
Fourth-quarter revenue rose 9.9% year over year to JPY 56.64 billion (USD 352 million). Gross margin improved.
Simply Wall St. reported the company missed earnings per share estimates by 13%.
During its full fiscal year, TechnoPro said global economic uncertainty continued. However, demand for temporary engineering staffing remained firm, particularly with respect to IT engineers in the transportation and information industries, the company said.
The number of engineers on payroll in Japan at the end of the year rose by 1,929 to 26,054.
Total revenue for the fiscal year rose 9.7% to JPY 219.22 billion (USD 1.36 billion). Gross margin also improved, while net profit fell 4.3%.
“The group has been working continuously to improve sales per engineer and while working days decreased compared to the previous fiscal year, average monthly sales per engineer were 678,000 yen (up 9,000 yen compared to the previous fiscal year) due to an increase in unit prices as a result of our Shift Up and Charge Up initiatives, as well as expansion in the solution business and other factors,” the company wrote in a regulatory filing.
TechnoPro reported earnings on 8 August.
TechnoPro Holdings Inc. - Q4 2024
(JPY millions) | Q4 2024 | Q4 2023 | % change | Q4 2024 (USD millions) |
Revenue | 56,638 | 51,560 | 9.9% | 352 |
Gross profit | 15,586 | 13,602 | 14.6% | 97 |
Gross margin | 27.5% | 26.4% | - | - |
Net profit | 1,972 | 3,967 | -50.3% | 12 |
Revenue by Segment
(JPY millions) | Q4 2024 | Q4 2023 | % change | Q4 2024 (USD millions) |
R&D outsourcing business | 43,757 | 39,753 | 10.1% | 272 |
Construction management outsourcing | 5,927 | 5,437 | 9.0% | 37 |
Other business in Japan | 1,556 | 1,657 | -6.1% | 10 |
Overseas business | 6,458 | 5,928 | 8.9% | 40 |
FY 2024
(JPY millions) | FY 2024 | FY 2023 | % change | FY 2024 (USD millions) |
Revenue | 219,218 | 199,851 | 9.7% | 1,361 |
Gross profit | 58,810 | 52,903 | 11.2% | 365 |
Gross margin | 26.8% | 26.5% | - | - |
Net profit | 14,895 | 15,560 | -4.3% | 92 |
Guidance
TechnoPro expects revenue to rise 8.3% year over year in the first half of its next fiscal year ending 30 June 2025. Revenue for the full fiscal year is expected to be up 8.1%.
Share Price
Shares in TechnoPro closed down 0.36% on 9 August in Japan to JPY 2,768.50 (USD 18.84). They were 12.84% above their 52-week low.