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PS Construction Co., Ltd., First Half Ordinary Profit Increases by 78%

Thu Nov 7, 2024 3:00 pm JST Earnings

1871 PS Construction Co., Ltd. 【J-GAAP】

Earnings Report

PS Construction Co., Ltd. <1871> [TSE-P] announced its financial results in the afternoon session on November 7th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 5.73 billion yen, an increase of 78.2% compared to the same period last year, exceeded the previous forecast of 4.7 billion yen.

The progress rate against the 7.6 billion yen full-year plan was 75.5%, also surpassing the five-year average of 44.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop by 58.8% from the same period last year to 1.86 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 72.9% from the same period last year, reaching 3.18 billion yen. The operating profit margin significantly improved from 6.3% in the same period last year to 9.6%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 47,540 2,298 2,287 1,497 32.1 40.6 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 57,669 3,310 3,220 2,151 46.3 41.6 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 64,851 5,747 5,738 3,733 80.0 75.5 Nov 7, 2024 J-GAAP
YoY +12.5% +73.6% +78.2% +73.5% +72.8%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 63,000 4,600 4,700 3,100 66.5 22 Sep 25, 2024 J-GAAP
Apr - Sep, 2024 Results 64,851 5,747 5,738 3,733 80.0 22 Nov 7, 2024 J-GAAP
Revision Rate +2.9% +24.9% +22.1% +20.4% +20.4%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 71,625 4,517 4,523 2,903 62.4 27 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 62,149 1,953 1,862 1,267 27.1 22 Nov 7, 2024 J-GAAP
YoY -13.2% -56.8% -58.8% -56.4% -56.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 109,327 5,715 5,629 3,790 81.4 33 May 12, 2023 J-GAAP
Mar, 2024 129,294 7,827 7,743 5,054 108.6 44 May 13, 2024 J-GAAP
Mar, 2025 Guidance 127,000 7,700 7,600 5,000 106.9 44 May 13, 2024 J-GAAP
YoY -1.8% -1.6% -1.8% -1.1% -1.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 30,059 1,880 1,843 1,397 30.1 6.3 Nov 9, 2023 J-GAAP
Oct - Dec, 2023 32,347 1,937 1,938 1,295 27.8 6.0 Feb 8, 2024 J-GAAP
Jan - Mar, 2024 39,278 2,580 2,585 1,608 34.5 6.6 May 13, 2024 J-GAAP
Apr - Jun, 2024 31,665 2,554 2,551 1,580 33.9 8.1 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 33,186 3,193 3,187 2,153 46.1 9.6 Nov 7, 2024 J-GAAP
YoY +10.4% +69.8% +72.9% +54.1% +53.5%

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