Japanese supermarket retailer Aeon has reported a 3% rise in quarterly profit and backed its full-year earnings guidance.
Aeon’s group operating profit rose to ¥21.29bn (US$196.4m) for the first quarter to 20 May, while revenues rose 26.4% to ¥987.46bn. The company said its group net profit reached ¥13.3bn for the quarter but did not give a year-ago comparison.
Aeon said weak sales of food and clothing had been offset by higher revenues at its credit services and shopping centre units, reported Reuters.
Aeon forecast operating profit up 19% to ¥157bn for the year to 20 February 2005, backing a forecast made in April. The company expects a record group net profit of ¥66bn for the year.