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Alphax Food System fiscal Q1 profit climbs YOY

Alphax Food System Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was ¥15.47 per share, an increase from ¥1.15 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.8 million, an increase from ¥2.5 million in the year-earlier period.

The normalized profit margin increased to 5.8% from 0.4% in the year-earlier period.

Total revenue climbed on an annual basis to ¥579.0 million from ¥571.0 million, and total operating expenses decreased 7.3% from the prior-year period to ¥523.0 million from ¥564.0 million.

Reported net income grew year over year to ¥36.0 million, or ¥16.50 per share, from ¥3.0 million, or ¥1.37 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.