Japanese Lifull Co. Ltd. (TSE: 2120) reported a 70 percent year-on-year surge in net profit to 1 billion yen ($9.1 million U.S.) for the first quarter ended Dec. 31.
Income from home services rose 5.2 percent y-o-y to ¥992 million ($8.9 million). Revenue in the segment increased while sales and administration costs like paid search marketing decreased.
Homes.co.jp revenue grew 1.7 percent in Q1 from ¥6.7 billion ($61.1 million U.S.) in the corresponding period a year earlier. Average revenue per agent increased 1.2 percent to ¥85,017 ($770.70) in the period. The number of clients grew slightly, to 27,373 from 27,042.
Overseas business contributed ¥253 million ($2.3 million) to total income, a 93.4 percent year-on-year jump. This was thanks to a revenue increase and profitability achievements at Trovit. Revenue from overseas business increased 11.6 percent year-on-year to ¥986 million.
“Although (yen) turned out to be approximately three yen higher than expected, (we) achieved double-digit growth thanks to Trovit’s growth,” Lifull said.