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Fast Retailing operating profit soars 33.9% in FY18

Oct '18
Courtesy: Fast Retailing
Courtesy: Fast Retailing
Fast Retailing has achieved a record performance in the twelve months to August 2018 with operating profit climbing at 33.9 per cent year-on-year to ¥236.2 billion. The company saw significant profit contributions from Uniqlo International and Uniqlo Japan. For the reported period, the company recorded revenue of 2.1300 trillion, up by 14.4 per cent y-o-y.

At Uniqlo Japan, revenue and profits both rose during fiscal 2018, with revenue totaling to ¥864.7 billion, up by 6.7 per cent and operating profit reaching ¥119.0 billion, a rise of 24.1 per cent. Full-year same-store sales rose 6.2 per cent with consistent growth in both the first and second half. First-half same-store sales growth was extremely strong at 8.4 per cent, due to strong sales of cold-weather clothing. The gross profit margin also improved on strong overall segment performance.

There has been significant gain at Uniqlo International with revenue rising at 26.6 per cent to ¥896.3 billion and operating profit soaring at 62.6 per cent to a total of ¥118.8 billion in the fiscal 2018.

For fiscal 2019, Fast Retailing predicts another record overall performance, stemming from revenue and profit gains at all four business segments. The estimate for consolidated revenue is ¥2.3000 trillion and ¥270.0 billion as consolidated operating profit. The profit attributable to owners of the parent will be up by 6.6 per cent at ¥165.0 billion.

Uniqlo International is expected to generate further strong revenue and profit gains, and the segment's operating profit total is expected to far surpass that of Uniqlo Japan in FY19. While Uniqlo Japan is forecast to report a decline in profit in the first half, the segment is expected to secure higher full-year revenue and profit on the back of strong second-half profit gains. (RR)

Fibre2Fashion News Desk – India

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