JAPAN: Ajinomoto FY profit climbs, sales slide
- Net profit climbs 59%
- Operating profit falls 14%
- Net sales slide 1%
Ajinomoto reiterated its fiscal 2013 sales forecast and upped its profit forecast
Japanese food maker Ajinomoto has recorded an increase in full-year profits but saw sales declines in all divisions except its domestic food unit.
Earnings in the 12 months to the end of March amounted to JPY15.3m (US$190.7m), a 59% increase on the prior year period. This was driven by an extraordinary gain of JPY27.7bn on the return of a "substitutional portion of the welfare pension fund", it said today (5 November).
Operating income, however, fell 14% in the period to JPY36.8bn, while sales slid 1% to JPY598.8bn as a result of a "challenging" food environment and high ingredient prices.
In the group's domestic food products business, sales increased 2% to JPY226.5bn, due to growth in sales of seasonings, processed foods, and frozen foods. Sales in all other divisions, however, fell.
Ajinomoto reiterated its fiscal 2013 sales forecast of JPY1.22tr and operating income forecast of JPY73.50bn. The firm upped its net income forecast to JPY47bn from JPY44bn previously.
- What US companies might Nomad Foods buy?
- Challenges for General Mills with The Good Table
- Why investors are concerned about water risk
- Greek crisis - The impact on shopper behaviour
- Competition intensifies among UK burger chains
- B&G Foods "front-runner for Green Giant"
- Mitsubishi buys stake in Olam International
- FrieslandCampina H1 earnings up despite flat sales
- Mengniu sales dip but work on costs boosts profits
- French body calls for five-colour nutrition labels
- Management briefing: just-food’s industry outlook for 2015
- Food Flavourings & Colourings (UK) - Industry Report
- Bakery Market in Japan: Forecast, and Market Analysis 2015-2019
- Probiotic Ingredients Market by Function, Application, End Use, Ingredient, and by Region - Global Trends & Forecast to 2020
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis