Japanese food group Ajinomoto has reported an 8% increase in nine-month profits, helped by higher earnings from its overseas operations.
The company booked an 8.2% rise in net income to JPY39.84bn for the period to the end of December. Operating income was 6.1% higher at JPY53.56bn. Net sales were up 2.6% at JPY731.44bn.
Go deeper with GlobalData
Ajinomoto’s domestic business saw operating income drop 13.5% to JPY19.6bn. Sales grew 2.4% to JPY233.3bn but earnings were hit by higher sales expenses and rising prices for raw ingredients for frozen foods.
Operating income from the group’s overseas food arm jumped 26.2% to JPY24.7bn. Ajinomoto reported a 9.2% rise in overseas sales to JPY20.1bn on the back of higher consumer goods sales and increased revenue from umami ingredients to food manufacturers.
Ajinomoto said recent acquisition Windsor Quality Holdings, the US ethnic food maker, was consolidated into the business on 5 November.
See Also:
Its third-largest division by sales and profits – bioscience products and fine chemicals – grew operating income by 89.1% to JPY9.3bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
