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Life Foods fiscal Q1 profit climbs 18.8% YOY

Life Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥29.14 per share, a gain of 26.0% from ¥23.12 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥95.0 million, a gain of 18.8% from ¥80.0 million in the year-earlier period.

The normalized profit margin climbed to 3.0% from 2.6% in the year-earlier period.

Total revenue climbed year over year to ¥3.16 billion from ¥3.10 billion, and total operating expenses grew year over year to ¥3.02 billion from ¥2.99 billion.

Reported net income fell year over year to ¥68.0 million, or ¥20.86 per share, from ¥70.0 million, or ¥20.23 per share.

As of July 15, US$1 was equivalent to ¥101.70.