COPRO-HOLDINGS reported first-quarter operating profit of ¥960 million, up 55.1% year on year. The company responded by significantly raising its first-half and full-year earnings forecasts.
COPRO-HOLDINGS released its first-quarter results, reporting operating profit of ¥960 million, up 55.1% year on year. High utilization rates and rising sales unit prices, primarily in its core construction engineer staffing business, contributed.
The full-year forecast was raised from the previous ¥3.0 billion to ¥3.88 billion. As a result, annual profit is now expected to increase 6.7% from the previous fiscal year.
The first-half forecast was also raised from the previous ¥900 million to ¥1.77 billion, reflecting expected growth during the period. Lower-than-expected personnel and branch-related costs were also cited as contributing factors.