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Japan – Outsourcing Q1 revenue up but slides into loss
First-quarter revenue rose 36.7% at Tokyo-based staffing firm Outsourcing Inc. (2427: JP) to JPY 86.40 billion (USD 787.0 million). Gross margin improved to 19.4% and profit also increased. The company announced results last week.
(JPY millions)
Q1 2019
Q1 2018
% change
Q1 2019 (USD millions)
Revenue
86,404
63,198
36.7%
787.0
Operating Income
2,689
2,050
31.2%
24.5
Profit Before Tax
1,550
1,935
(19.9%)
14.1
Profit for the Year
788
1,311
(39.9%)
7.1
Outsourcing Inc. provides outsourcing services in electronics, cars and other areas. It also provides temporary staffing services, known in Japan as worker dispatch.
Looking ahead, the company forecasted revenue of JPY 385 billion (USD 3.50 billion) for the year ended 31 December 2019.
In trading yesterday Outsourcing shares closed at JPY 1,416 (USD 12.90), up 0.07% on the day. Based on its current share price the company has a market value of JPY 161.87 billion (USD 1.47 billion).
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