JAPAN: Mixed FY results from c-store retailer FamilyMart

By Michelle Russell | 12 April 2012

Net profit slide 8%
Operating profit increase 11.4%
Sales grow 2.9%

Japanese convenience retailer FamilyMart has reported mixed financial results for its last financial year, with operating profit rising but net earnings falling.

For the year to the end of February, net profit slid 8% to JPY16.58bn (US$204.7m).

However, operating profit amounted to JPY42.59bn, an 11.4% increase on the prior-year. Pre-tax profits climbed 12.3% to JPY44.81bn.

Sales, meanwhile, increased 2.9% to reach JPY329.22bn.

FamilyMart president Junji Ueda said its customer base had continued to increase amid a rise in single-person households and an ageing population in Japan.

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Sectors: Financials, Retail