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Life Foods fiscal Q1 profit falls YOY

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Life Foods fiscal Q1 profit falls YOY

Life Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥20.02 per share, a decline of 31.3% from ¥29.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥61.3 million, a decline of 35.5% from ¥95.0 million in the prior-year period.

The normalized profit margin dropped to 1.9% from 3.0% in the year-earlier period.

Total revenue grew year over year to ¥3.25 billion from ¥3.16 billion, and total operating expenses increased on an annual basis to ¥3.17 billion from ¥3.02 billion.

Reported net income increased 23.5% from the prior-year period to ¥84.0 million, or ¥27.45 per share, from ¥68.0 million, or ¥20.86 per share.

As of July 14, US$1 was equivalent to ¥123.44.