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Shoei Foods fiscal Q2 profit climbs 74.4% YOY

Shoei Foods Corp. said its normalized net income for the fiscal second quarter ended April 30 was ¥48.25 per share, an increase of 74.4% from ¥27.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥938.4 million, a gain of 74.4% from ¥538.1 million in the year-earlier period.

The normalized profit margin climbed to 3.4% from 2.1% in the year-earlier period.

Total revenue rose 10.1% on an annual basis to ¥28.00 billion from ¥25.42 billion, and total operating expenses grew 8.2% year over year to ¥26.46 billion from ¥24.46 billion.

Reported net income increased 74.9% from the prior-year period to ¥904.0 million, or ¥46.48 per share, from ¥517.0 million, or ¥26.58 per share.

As of June 12, US$1 was equivalent to ¥123.29.