JAPAN: Meiji Seika posts first-half loss on restructuring costs
Japanese confectionery firm Meiji Seika has reported a first-half loss due to higher costs for a restructuring programme and retirement packages.
The company posted a net loss of ¥1.01bn (US$9.3m) for the six months to 30 September, compared to a year-earlier net profit of ¥207m on a group basis, reported Kyodo News.
Pre-tax profit rose from ¥223m to ¥2.71bn, while the company reported first-half operating profit of ¥2.29bn compared to a loss of ¥181m a year earlier. Group sales rose 4.8% to ¥172.01bn.
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