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Japan – Meitec H1 revenue and profits grow in H1

07 November 2018

Japanese engineering staffing firm Meitec Corp (9744: JP) reported revenue yesterday for the six months ending 30 September 2018 of JPY 47.62 billion (USD 421.3 million), an increase of 3.8%, compared with last year.

(JPY millions) H1 2018 H1 2017 Change H1 2018 (USD millions)
Revenue 47,621 45,867 3.8% 421.3
Operating Profit 5,827 5,442 7.1% 51.5
Net Income 3,885 3,526 10.2% 34.3

The group stated that the number of engineers assigned to clients saw a steady increase.

Sales for the group’s Recruiting & Placement Business for Engineers increased by 9.3% during the period.

Sales for its Engineering Solutions Business showed a 3.8% improvement during H1 2018 when compared to the same period last year.

Looking ahead, Meitec forecasted revenue of JPY 97.0 billion (USD 858.1 million) for the year ended March 2019.

In trading yesterday, Meitec shares closed at JPY 4,790 (USD 42.38), up 1.05% on the day. Based on its current share price the company has a market value of JPY 151.2 billion (USD 1.33 billion).

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