JAPAN: Aeon posts lower H1 net profit
Japanese retailer Aeon Co has posted a 6.6% drop in first-half net profit, citing tough price competition and cooler-than-expected summer weather. Aeon posted group net profit of ¥18.42bn (US$166.1m) for the six months to 20 August, compared to ¥19.72bn a year earlier. The company had previously forecast first-half profit of ¥18.5bn, but said in August it was likely to miss targets because of unseasonably cool summer weather, reported Reuters.
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