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Axial Retailing fiscal Q3 profit climbs 19.1% YOY

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Axial Retailing fiscal Q3 profit climbs 19.1% YOY

Axial Retailing Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥59.87 per share, an increase of 19.2% from ¥50.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.40 billion, an increase of 19.1% from ¥1.17 billion in the year-earlier period.

The normalized profit margin climbed to 2.5% from 2.2% in the year-earlier period.

Total revenue grew year over year to ¥55.65 billion from ¥53.73 billion, and total operating expenses increased from the prior-year period to ¥53.43 billion from ¥51.87 billion.

Reported net income rose 23.9% from the prior-year period to ¥1.38 billion, or ¥58.90 per share, from ¥1.11 billion, or ¥47.51 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.