World Holdings 9-month revenue surges 13.6%, but profits decline
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Japanese outsourcing services company World Holdings (2429: JP) reported revenue on 8 November for the nine months ended 30 September 2024 of JPY 171.53 billion (USD 1.12 billion), an increase of 13.6% compared to the previous year.
(JPY millions) | 9 months 2024 | 9 months 2023 | Change | 9 months 2024 (USD millions) |
Revenue | 171,533 | 150,976 | 13.6% | 1,124.5 |
Gross Profit | 26,238 | 26,922 | -2.5% | 172.0 |
Gross Margin | 15.3% | 17.8% | - | |
Operating Profit | 4,390 | 7,769 | -43.5% | 28.8 |
Net Income | 1,958 | 4,707 | -58.4% | 12.8 |
Profits decreased mainly because of properties originally planned for sale in 2024 that were sold in 2023 in the Real Estate Business and due to the negative effect of no growth in the semiconductor industry in the Human Resources and Education Business.
World Holdings Co Ltd. provides outsourcing services in the manufacturing sector operating under the World Intec brand. The company also offers personnel staffing services for engineering and short-term positions.
Revenue in the human resources and education business saw revenue rise by 25.3%. The real estate business saw a fall of 26.3%. The information and communications business saw revenue rise by 10.3%. The agricultural park was up by 14.6%.
Looking ahead, the company forecasted revenue of JPY 252.08 billion (USD 1.65 billion) for the year ended December 2024.
World Holdings shares closed on 8 November at JPY 1,949.00 (USD 12.78), down 0.46% on the day and 29.24% above the 52-week low of JPY 1,508.00 (USD 9.89) set on 5 August 2024. The company has a market cap of JPY 35.26 billion (USD 231.15 million).