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Japan – PA Co H1 revenue slips as it reports loss

14 August 2019

Japanese temporary staffing firm PA Co. (4766: JP) reported revenue for the six months ended 30 June 2019 of JPY 1.20 billion (USD 11.3 million), down 3.6% from the same period last year.

(JPY millions) H1 2019 H1 2018 Change H1 2019 (USD millions)
Revenue 1,205 1,250 -3.6% 11.3
Operating Profit 0 -21 N/A 0
Net Income -36 0 N/A -0.3

PA Co. operates two business segments; Information Services and Temporary Staffing Services. The Information Services segment publishes free job information magazines and sales promotion information publications; offers sales promotion tools through mobiles, and operates recruitment websites for full-time employers focusing on mobile sites.

The group reported that sales and profits were below its forecasts. Revenue was lower than the company’s forecasts due to lower sales in its free job information magazines. Operating income was impacted by cost of sales.

The company also reported an extraordinary loss due to the construction of a commercial facility which was found to have incurred a number of violations related to the Building Standards Law.

Looking ahead the company forecasted revenue of JPY 2.70 billion (USD 25.3 million) for the year ended December 2019.

The full-year consolidated financial forecast is based on the uncertain business environment going forward.

In trading today , PA Co shares closed at JPY 261.00 (USD 2.45), up 2.35% on the day and 28.69% below its 52-week high of JPY 366.00 (USD 3.44), set on 4 April 2019. Based on its current share price the company has a market value of JPY 2.86 billion (USD 26.89 million).

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