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Arcland Service Q2 profit climbs 9.5% YOY

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Arcland Service Q2 profit climbs 9.5% YOY

Arcland Service Holdings Co. Ltd. said its normalized net income for the second quarter was ¥12.53 per share, compared with ¥12.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥398.9 million, a gain of 9.5% from ¥364.4 million in the prior-year period.

The normalized profit margin declined to 7.9% from 8.9% in the year-earlier period.

Total revenue climbed 23.3% on an annual basis to ¥5.05 billion from ¥4.10 billion, and total operating expenses increased 26.5% from the prior-year period to ¥4.42 billion from ¥3.50 billion.

Reported net income grew 14.4% on an annual basis to ¥373.0 million, or ¥11.72 per share, from ¥326.0 million, or ¥11.24 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.