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Halows fiscal Q1 profit climbs 15.1% YOY

Halows Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥25.18 per share, a gain of 15.1% from ¥21.87 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥456.9 million, an increase of 15.1% from ¥396.9 million in the prior-year period.

The normalized profit margin increased to 2.0% from 1.9% in the year-earlier period.

Total revenue rose 8.2% on an annual basis to ¥23.12 billion from ¥21.36 billion, and total operating expenses climbed 8.0% year over year to ¥22.36 billion from ¥20.70 billion.

Reported net income grew 23.1% on an annual basis to ¥458.0 million, or ¥25.24 per share, from ¥372.0 million, or ¥20.50 per share.

As of July 11, US$1 was equivalent to ¥101.30.