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Parco fiscal Q1 profit climbs 8.8% YOY

Parco Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥18.46 per share, a gain of 8.8% from ¥16.97 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.87 billion, an increase of 8.8% from ¥1.72 billion in the year-earlier period.

The normalized profit margin climbed to 2.7% from 2.6% in the year-earlier period.

Total revenue rose year over year to ¥68.69 billion from ¥66.20 billion, and total operating expenses increased from the prior-year period to ¥65.68 billion from ¥63.41 billion.

Reported net income increased from the prior-year period to ¥1.65 billion, or ¥16.23 per share, from ¥1.59 billion, or ¥15.64 per share.

As of July 9, US$1 was equivalent to ¥101.69.