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S Foods fiscal Q1 profit climbs 45.4% YOY

S Foods Inc. said its normalized net income for the fiscal first quarter ended May 31 came to ¥41.79 per share, an increase of 45.4% from ¥28.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.17 billion, an increase of 45.4% from ¥804.9 million in the year-earlier period.

The normalized profit margin increased to 2.3% from 2.0% in the year-earlier period.

Total revenue increased 24.0% year over year to ¥49.96 billion from ¥40.28 billion, and total operating expenses grew 23.2% year over year to ¥48.06 billion from ¥39.00 billion.

Reported net income increased 49.3% from the prior-year period to ¥1.03 billion, or ¥36.64 per share, from ¥687.0 million, or ¥24.53 per share.

As of July 15, US$1 was equivalent to ¥101.70.