Fast Retailing H1 revenue up 16.6% to ¥1.1867 trillion
The
consolidated revenue of Fast Retailing Company for six months from
September 1, 2017 to February 28, 2018 went up 16.6 per cent
year-on-year to a total of ¥1.1867 trillion. The operating profit for
the reported period climbed up 30.5 per cent year-on-year to ¥170.4
billion. The company''s operating profit margin improved to 14.4 per
cent.
The
Group recorded a foreign exchange loss of ¥1.7 billion and impairment
losses of ¥9.9 billion under other income and expenses. A net loss of
¥5.2 billion was recorded under finance income, after the spot foreign
exchange rate at the end of February closed higher than the spot rate at
the start of the business term. As a result, first-half profit before
income taxes expanded to ¥165.1 billion (+11.9% year-on-year) and profit
attributable to owners of the parent increased to ¥104.1 billion (+7.1%
year-on-year).
Net
cash generated by the group''s operating activities for the six months
ended 28 February 2018 was ¥220.2 billion, which was an increase of ¥9.0
billion (+4.3 % year-on-year) from the six months ended 28 February
2017
The
group’s medium-term vision is to become the world’s number one apparel
retailer. "In pursuit of this aim, we are focusing our efforts on
expanding Uniqlo International and our GU. We continue to increase
Uniqlo store numbers in each country
where we operate, and open global flagship stores and large-format
stores in major cities around the world to help consolidate Uniqlo’s
position as a key global brand. In terms of the GU operation, we plan to
open more GU stores in Japan, while expanding the brand’s international
presence, especially in Greater China," Fast Retailing press release
said.
As the Fast Retailing Group expands its business globally, it remains committed to integrating environmental and social sustainability
into our operations from a long-term perspective. Its sustainability
initiatives are conducted across four priority areas: supply chain,
products, stores and communities, and employees. (RR)
Source: EtRetail.Com, India Saturday, 21 April 2018