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Dentsu Q1 profit climbs 677.1% YOY

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Dentsu Q1 profit climbs 677.1% YOY

Dentsu Inc. said its first-quarter normalized net income came to ¥56.69 per share, an increase of 685.9% from ¥7.21 per share in the first quarter ended June 30, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.16 billion, an increase of 677.1% from ¥2.08 billion in the first quarter ended June 30, 2014.

The normalized profit margin rose to 8.1% from 0.4% in the year-earlier period.

Total revenue fell 62.9% on an annual basis to ¥199.54 billion from ¥538.26 billion, and total operating expenses fell 68.9% on an annual basis to ¥167.75 billion from ¥539.05 billion.

Reported net income came to ¥17.21 billion, or ¥60.37 per share, compared with a loss of ¥735.0 million, or a loss of ¥2.55 per share, in the first quarter ended June 30, 2014.

As of May 16, US$1 was equivalent to ¥108.83.