Aeon, Japan’s second largest retail group, is expected to report (just avoiding repetition of ‘record’) record H1 group operating profit of ¥56.5bn (US$460m) for the sixth months ending 20 August 2002, an increase of 16% over the same period last year.

The good performance of Aeon supermarket subsidiaries Kyushu Jusco and Maxvalu are thought to have contributed to the increased profit, despite stagnant consumer spending in the retail sector.

Consolidated revenues for the first half reached ¥1.48trillion, up ¥0.04trillion compared with the same period last year. Both consolidated revenue and operating profit totals were higher than forecast, reported Reuters News.