JAPAN: Wacoal ups outlook on H1 profit growth
- H1 net income jumps 26.8% to JPY6.54bn
- Sales up 8.4% to JPY98.55bn
- Company raises full-year outlook
Japanese lingerie manufacturer Wacoal Holdings has lifted its full-year earnings outlook after recording a 26.8% increase in first-half net profit, boosted by higher sales.
Net profit reached JPY6.54bn (US$66.3m) in the six months ending 30 September, compared to JPY5.16bn in the same period of the prior year.
Sales were up 8.4% to JPY98.55bn from JPY90.88bn, mainly due to the expansion of sales in its US business, favourable exchange rates, and the inclusion of Wacoal Eveden, which Wacoal bought in April last year.
In Japan, sales edged up 0.4% to JPY60.12bn, while the company's international division saw sales reach JPY22.69bn, jumping 53.9% on the prior year.
Wacoal now expects full-year earnings per share to reach JPY66.74, up on its previous guidance of JPY56.80. Sales, meanwhile, are forecast to increase 8.9% to JPY193bn, compared to its earlier expectations of an 8.4% gain to JPY192bn.
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