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Japan's Recruit Holdings posts higher profits for FY'17

Tokyo-listed human resources company Recruit Holdings Co. Ltd. posted double-digit profit growth in fiscal 2017 as a result of lower income tax expenses due to tax changes in the U.S. and Europe.

Profit attributable to owners of the parent rose 11.0% to ¥151.67 billion in the 12 months that ended March 31 from ¥136.65 billion in the year-ago period.

Diluted EPS came in at ¥90.60 compared with ¥81.19 a year ago.

Revenue rose 11.9% year over year to ¥2.173 trillion from ¥1.942 trillion, driven by growth in the company's staffing and HR technology segments.

Operating income was down 0.9% to ¥191.79 billion from ¥193.51 billion a year earlier.

The company said annual dividends for the fiscal year will be ¥23 per share, consisting of an interim dividend of ¥11 per share and a year-end dividend of ¥12 per share.

Recruit projects fiscal 2018 operating income to rise 9.5% year over year, reflecting the acquisition of Glassdoor Inc., which is expected to close during the second quarter.

Fiscal 2018 profit is projected to edge up 0.9% to ¥153 billion, while revenue is expected to increase 5.9% to ¥2.302 trillion.