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House Foods fiscal Q4 profit falls YOY

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House Foods fiscal Q4 profit falls YOY

House Foods Group Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥4.12 per share, a decrease of 56.0% from ¥9.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥422.5 million, a decline of 56.1% from ¥962.8 million in the year-earlier period.

The normalized profit margin declined to 0.6% from 1.9% in the year-earlier period.

Total revenue climbed 26.3% year over year to ¥65.63 billion from ¥51.97 billion, and total operating expenses grew 24.9% year over year to ¥64.39 billion from ¥51.57 billion.

Reported net income came to a loss of ¥548.0 million, or a loss of ¥5.35 per share, compared to income of ¥411.0 million, or ¥4.00 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥68.54 per share, a gain from ¥65.96 per share in the prior year.

Normalized net income was ¥7.04 billion, a rise from ¥6.80 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥241.89 billion from ¥231.45 billion, and total operating expenses increased on an annual basis to ¥231.12 billion from ¥222.76 billion.

The company said reported net income grew on an annual basis to ¥22.63 billion, or ¥220.48 per share, in the full year, from ¥6.97 billion, or ¥67.61 per share.

As of June 28, US$1 was equivalent to ¥102.79.