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Horiifoodservice fiscal Q4 profit climbs YOY

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Horiifoodservice fiscal Q4 profit climbs YOY

Horiifoodservice Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥15.87 per share, a gain from ¥7.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥90.0 million, a gain from ¥43.1 million in the prior-year period.

The normalized profit margin increased to 4.3% from 2.1% in the year-earlier period.

Total revenue rose year over year to ¥2.07 billion from ¥2.02 billion, and total operating expenses fell from the prior-year period to ¥1.93 billion from ¥1.95 billion.

Reported net income increased 95.2% year over year to ¥41.0 million, or ¥7.23 per share, from ¥21.0 million, or ¥3.70 per share.

For the year, the company's normalized net income totaled ¥62.39 per share, a gain of 37.7% from ¥45.31 per share in the prior year.

Normalized net income was ¥353.8 million, an increase of 37.7% from ¥256.9 million in the prior year.

Full-year total revenue grew year over year to ¥8.55 billion from ¥8.21 billion, and total operating expenses increased year over year to ¥7.98 billion from ¥7.80 billion.

The company said reported net income rose year over year to ¥248.0 million, or ¥43.74 per share, in the full year, from ¥121.0 million, or ¥21.34 per share.

As of June 26, US$1 was equivalent to ¥123.96.