Daisan’s sales grew, but a faster hiring push squeezed profit
The scaffolding and construction-services group lifted sales 2.8% to ¥11.139 billion in the year to April, but operating profit fell 27.5% to ¥268 million as hiring, training and overseas worker-related costs pushed the operating margin down to 2.4% from 3.4%. Management is guiding for ¥12.0 billion of sales and ¥280 million of operating profit this year, which is a recovery, just not a heroic one.