Medley（4480.JP）Profit level comes up short due to growth in costs

Global Research and Evidence Lab 14 August 2024 First Read Medley Profit level comes up short due to growth in costs Q: How did the results compare vs expectations? A: Q2 (April-June) FY12/24 OP (prior to goodwill amortisation adjustments) came in at ¥2.02bn (-1.0% yoy), which is below the IFIS consensus (¥2.68bn) and our forecast (¥2.8bn). The undershoot relative to what we expected was due to one-off factors in the HR platform business and higher company-wide costs. The OP margin in the HR platform busine ...