Operating profit up over 10% at year-end 2019 for Meitec
Meitec has released its results for the fiscal year under review (from 1st April 2018 to 31st March 2019).
Consolidated net sales for the period under review increased ¥4,117m, or 4.4%, from a year earlier to ¥97,736m. Consolidated cost of sales rose ¥2,450m, or 3.5%, from a year earlier to ¥71,701m, chiefly because of higher labour costs due to an increase in the number of engineers. Consolidated selling, general and administrative expenses rose ¥489m, or 3.8%, from a year earlier to ¥13, 399m. As a result, consolidated operating profit increased ¥1,177m, or 10.3%, from a year earlier to ¥12,635m, and consolidated ordinary profit rose ¥1,178m, or 10.3%, from a year earlier to ¥12,643m. Profit attributable to owners of parent increased ¥697m, or 8.6%, from a year earlier to ¥8,829m.
Net sales in the recruiting & placement business for engineers for the fiscal year under review increased ¥100m, or 6.1%, from a year earlier to ¥1,762m, and operating profit increased ¥15m, or 2.8%, to ¥560m.
Total consolidated assets at the end of the fiscal year (31st March 2019) increased ¥3,681m from 31st March 2018 to ¥74,615m. This reflected an increase of ¥3,563m in current assets from the previous fiscal year-end. The increase in current assets was mainly due to an increase in cash and deposits.
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