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Life Foods fiscal Q2 profit falls YOY

Life Foods Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to ¥22.24 per share, a decline of 9.5% from ¥24.57 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥72.5 million, a decline of 14.7% from ¥85.0 million in the year-earlier period.

The normalized profit margin fell to 2.3% from 2.7% in the year-earlier period.

Total revenue totaled ¥3.21 billion, compared with ¥3.19 billion in the prior-year period, and total operating expenses rose year over year to ¥3.11 billion from ¥3.07 billion.

Reported net income increased 72.7% year over year to ¥57.0 million, or ¥17.48 per share, from ¥33.0 million, or ¥9.54 per share.

As of Oct. 15, US$1 was equivalent to ¥106.21.