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Life Foods fiscal Q2 profit climbs 27.6% YOY

Life Foods Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was ¥30.23 per share, a gain of 35.9% from ¥22.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥92.5 million, a gain of 27.6% from ¥72.5 million in the prior-year period.

The normalized profit margin increased to 2.8% from 2.3% in the year-earlier period.

Total revenue grew year over year to ¥3.34 billion from ¥3.21 billion, and total operating expenses grew year over year to ¥3.21 billion from ¥3.11 billion.

Reported net income grew 40.4% from the prior-year period to ¥80.0 million, or ¥26.15 per share, from ¥57.0 million, or ¥17.48 per share.

As of Oct. 15, US$1 was equivalent to ¥118.46.