Calbee, the Japan-based snacks group, has reported higher nine-month profits, with increased sales and efficiency gains offsetting pressure on raw material costs and the impact of a weak yen.
The company booked operating income of JPY21.91bn (US$181.4m) for the period to the end of December, up 13.5% on the first nine months of the previous financial year. Calbee pointed to a rise in revenue and an “increased efficiency of selling expenses” for the performance.
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Net sales grew 12.5% to JPY185.17bn, with an improved performance at home and overseas. Internationally, Calbee reported “strong sales” in North America and South Korea.
Net profit stood at JPY13.39bn, 13.6% higher year-on-year, helped by factors including the sale of Calbee’s stake in its venture in China, which the company quit in September.
For the year as whole, Calbee expects net sales to rise 8% to JPY240bn, operating income to increase 19.1% to JPY28.8bn and net income to be up 11.9% at JPY15.8bn.
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By GlobalData
