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MH Group fiscal Q2 profit falls YOY

MH Group Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to ¥1.51 per share, a decrease of 42.6% from ¥2.64 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.9 million, a decrease of 42.6% from ¥29.4 million in the year-earlier period.

The normalized profit margin dropped to 3.9% from 6.6% in the year-earlier period.

Total revenue decreased on an annual basis to ¥432.0 million from ¥447.0 million, and total operating expenses climbed year over year to ¥405.0 million from ¥399.0 million.

Reported net income came to a loss of ¥4.0 million, or a loss of 36 sen per share, compared to income of ¥35.0 million, or ¥3.14 per share, in the year-earlier period.

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