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NH Foods fiscal Q1 profit climbs 94.2% YOY

NH Foods Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥25.62 per share, an increase of 98.5% from ¥12.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.57 billion, an increase of 94.2% from ¥2.87 billion in the year-earlier period.

The normalized profit margin rose to 2.0% from 1.1% in the year-earlier period.

Total revenue grew 6.9% year over year to ¥283.85 billion from ¥265.65 billion, and total operating expenses increased from the prior-year period to ¥273.93 billion from ¥261.18 billion.

Reported net income increased year over year to ¥6.61 billion, or ¥30.39 per share, from ¥3.20 billion, or ¥14.39 per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.