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Fast Retailing H1 revenue up 16.6% to ¥1.1867 trillion
21
Apr '18
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)

Fibre2Fashion News Desk – India


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