JAPAN: Meiji Seika lowers full-year profit outlook
Japanese food firm Meiji Seika has lowered its group net profit outlook for the year to March 2004 to ¥1bn (US$9.0m) from ¥4bn.
The company said the revision was made because of a ¥3.6bn special loss related to its early-retirement scheme, reported Dow Jones News.
Meiji Seika did not, however, revise its sales outlook, leaving it unchanged at ¥370bn. The company said sales promotion had helped improve the performance of its three main businesses, food, pharmaceuticals and health care.
The company also lowered its group outlook for the first half to a loss of ¥1bn from a net profit of ¥500m.
For the year to March 2003, Meiji Seika reported group net profit of ¥2.67bn on sales of ¥353.45bn.
- Unilever 2016 investor day - the top takeaways
- The key questions for digital strategists in 2017
- Wessanen's move for Spain's Biogran - analysis
- Have food promotions reached tipping point?
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Japan's Nagatanien buys Chaucer Food Group
- Tyson sets up US$150m investment fund