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Nippon Beet Sugar Manufacturing fiscal Q2 profit climbs 72.4% YOY

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Nippon Beet Sugar Manufacturing fiscal Q2 profit climbs 72.4% YOY

Nippon Beet Sugar Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥24.92 per share, a gain of 72.2% from ¥14.47 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥355.6 million, a gain of 72.4% from ¥206.3 million in the prior-year period.

The normalized profit margin climbed to 2.5% from 1.5% in the year-earlier period.

Total revenue decreased year over year to ¥14.01 billion from ¥14.20 billion, and total operating expenses declined from the prior-year period to ¥13.44 billion from ¥13.87 billion.

Reported net income rose 67.5% from the prior-year period to ¥330.0 million, or ¥23.12 per share, from ¥197.0 million, or ¥13.82 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.