Fast Retailing's 6 mths revenue up 6.5% in FY16

However, the selling, general and administrative (SGA) expenses for the first six months of FY16 rose by 10.2 per cent to ¥370.7 billion as compared to ¥336.6 billion last fiscal, affecting the company's profit for the six months period.

Gross profit for the period was ¥476.9 billion as compared to ¥479.5 billion, a fall of 0.5 per cent. Business profit for the six months period fell by 25.8 per cent to ¥106.2 billion as compared to ¥143.1 billion in the previous fiscal. Operating profit fell by 33.8 per cent to ¥99.3 billion as compared to ¥150 billion previously.

Profit posted before income taxes was ¥82 billion as compared to ¥163.6 billion in FY15, a fall of 49.9 per cent.

For the full fiscal 2016, the company expects revenue of ¥1,800 billion, representing a rise of 7 per cent, as compared to ¥1,681.7 billion in the previous fiscal.

Its profit before income taxes is expected to be ¥102.5 billion for fiscal 2016 as compared to ¥180.6 billion in the previous fiscal, a fall of 27 per cent.

The company expect to offer the same annual dividend in fiscal 2016 as in fiscal 2015 - of ¥350 per share. It includes an interim dividend of ¥185. (MCJ)

Fibre2Fashion News Desk