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ABC-Mart fiscal Q1 profit climbs 30.4% YOY

ABC-Mart Inc. said its normalized net income for the fiscal first quarter ended May 31 came to ¥100.68 per share, an increase of 30.4% from ¥77.19 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.30 billion, a gain of 30.4% from ¥6.37 billion in the prior-year period.

The normalized profit margin increased to 14.6% from 13.2% in the year-earlier period.

Total revenue climbed 17.7% year over year to ¥56.71 billion from ¥48.16 billion, and total operating expenses rose 14.4% year over year to ¥43.55 billion from ¥38.07 billion.

Reported net income grew 45.9% from the prior-year period to ¥7.85 billion, or ¥95.11 per share, from ¥5.38 billion, or ¥65.19 per share.

As of July 10, US$1 was equivalent to ¥101.28.